HC Wainwright Reaffirms Buy Rating for Rockwell Medical (NASDAQ:RMTI)

HC Wainwright restated their buy rating on shares of Rockwell Medical (NASDAQ:RMTI) in a report issued on Wednesday morning, Benzinga reports. They currently have a $9.00 price objective on the stock.

Separately, StockNews.com raised Rockwell Medical from a sell rating to a hold rating in a research report on Wednesday, June 19th.

Rockwell Medical Price Performance

NASDAQ RMTI opened at $4.10 on Wednesday. The firm’s fifty day simple moving average is $2.41 and its two-hundred day simple moving average is $1.91. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. Rockwell Medical has a 12-month low of $1.16 and a 12-month high of $4.38.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.05. Rockwell Medical had a negative net margin of 5.06% and a negative return on equity of 6.96%. The business had revenue of $25.83 million for the quarter, compared to analyst estimates of $23.01 million. During the same period in the previous year, the company earned ($0.18) earnings per share. On average, sell-side analysts expect that Rockwell Medical will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RMTI. Armistice Capital LLC increased its holdings in shares of Rockwell Medical by 22.5% in the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after purchasing an additional 592,000 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after purchasing an additional 92,189 shares during the period. Vanguard Group Inc. increased its holdings in shares of Rockwell Medical by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after purchasing an additional 43,302 shares during the period. Finally, SkyOak Wealth LLC increased its holdings in shares of Rockwell Medical by 47.3% in the first quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock valued at $42,000 after purchasing an additional 8,065 shares during the period. 23.31% of the stock is owned by institutional investors and hedge funds.

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.