Rockwell Medical (NASDAQ:RMTI) Announces Quarterly Earnings Results

Rockwell Medical (NASDAQ:RMTI) posted its quarterly earnings data on Tuesday. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04, reports. The business had revenue of $28.32 million for the quarter, compared to analysts’ expectations of $25.99 million. Rockwell Medical had a negative net margin of 1.25% and a positive return on equity of 9.27%. Rockwell Medical updated its FY 2024 guidance to EPS.

Rockwell Medical Stock Performance

Shares of RMTI stock opened at $2.63 on Thursday. The firm has a market cap of $81.61 million, a price-to-earnings ratio of -52.60 and a beta of 1.50. Rockwell Medical has a 52-week low of $1.16 and a 52-week high of $5.15. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $3.72 and its 200 day moving average is $2.60.

Institutional Trading of Rockwell Medical

A number of hedge funds have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC bought a new position in shares of Rockwell Medical in the 3rd quarter worth $40,000. Verus Capital Partners LLC bought a new position in Rockwell Medical in the third quarter worth about $51,000. Beacon Financial Advisory LLC bought a new position in Rockwell Medical in the third quarter worth about $98,000. Vanguard Group Inc. lifted its position in shares of Rockwell Medical by 4.0% during the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after buying an additional 43,302 shares during the last quarter. Finally, Corsair Capital Management L.P. bought a new stake in shares of Rockwell Medical in the 3rd quarter valued at about $298,000. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Rodman & Renshaw began coverage on Rockwell Medical in a research note on Thursday. They set a “buy” rating and a $5.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Rockwell Medical in a report on Wednesday, September 11th. Finally, StockNews.com upgraded Rockwell Medical from a “hold” rating to a “buy” rating in a report on Wednesday.

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.