Rockwell Medical (NASDAQ:RMTI) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Rockwell Medical (NASDAQ:RMTI) from a hold rating to a buy rating in a report issued on Wednesday.

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Rockwell Medical in a report on Wednesday, September 11th.

Rockwell Medical Trading Down 5.4 %

RMTI opened at $2.36 on Wednesday. The company’s 50 day moving average is $3.70 and its 200-day moving average is $2.60. Rockwell Medical has a 1-year low of $1.16 and a 1-year high of $5.15. The company has a current ratio of 2.41, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33. The company has a market cap of $76.11 million, a P/E ratio of -47.20 and a beta of 1.50.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $28.32 million for the quarter, compared to the consensus estimate of $25.99 million. Rockwell Medical had a negative net margin of 1.25% and a positive return on equity of 8.55%. Equities research analysts predict that Rockwell Medical will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RMTI. Vanguard Group Inc. raised its holdings in Rockwell Medical by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after purchasing an additional 43,302 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Rockwell Medical by 877.1% during the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after purchasing an additional 92,189 shares during the last quarter. Armistice Capital LLC raised its holdings in Rockwell Medical by 22.5% during the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after purchasing an additional 592,000 shares during the last quarter. Beacon Financial Advisory LLC bought a new position in Rockwell Medical during the 3rd quarter worth approximately $98,000. Finally, Concurrent Investment Advisors LLC bought a new position in Rockwell Medical during the 3rd quarter worth approximately $40,000. Institutional investors own 23.31% of the company’s stock.

Rockwell Medical Company Profile

Rockwell Medical, Inc, together with its subsidiaries, operates as a healthcare company that engages in the development, manufacture, commercialization, and distribution of various hemodialysis products for dialysis providers worldwide. The company offers Triferic Dialysate and Triferic AVNU which are indicated to maintain hemoglobin in adult undergoing hemodialysis.