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

Rockwell Medical (NASDAQ:RMTI) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

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

Rockwell Medical Price Performance

Shares of RMTI stock traded down $0.20 on Wednesday, reaching $2.63. The company’s stock had a trading volume of 2,807,536 shares, compared to its average volume of 353,738. The company has a market capitalization of $81.61 million, a price-to-earnings ratio of -52.60 and a beta of 1.50. The stock’s fifty day simple moving average is $3.72 and its 200-day simple moving average is $2.60. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.41. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $5.15.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $28.32 million during the quarter, compared to analyst estimates of $25.99 million. Rockwell Medical had a positive return on equity of 9.27% and a negative net margin of 1.25%. Analysts forecast that Rockwell Medical will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rockwell Medical

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Rockwell Medical by 4.0% during the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after buying an additional 43,302 shares during the last quarter. Armistice Capital LLC raised its holdings in shares of 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 acquiring an additional 592,000 shares during the period. Renaissance Technologies LLC boosted its position in shares of Rockwell Medical by 877.1% during the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after acquiring an additional 92,189 shares during the last quarter. Beacon Financial Advisory LLC purchased a new stake in shares of Rockwell Medical in the third quarter valued at about $98,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in Rockwell Medical during the third quarter worth about $40,000. 23.31% of the stock is currently owned by institutional investors and hedge funds.

About Rockwell Medical

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.