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

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

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

Rockwell Medical Price Performance

RMTI stock opened at $2.63 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.60 and a current ratio of 2.00. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $5.15. The firm has a market cap of $81.61 million, a P/E ratio of -52.60 and a beta of 1.50. The stock has a 50-day simple moving average of $3.72 and a 200-day simple moving average of $2.60.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Concurrent Investment Advisors LLC purchased a new position in Rockwell Medical in the third quarter valued at about $40,000. Verus Capital Partners LLC bought a new position in Rockwell Medical during the 3rd quarter worth approximately $51,000. Beacon Financial Advisory LLC bought a new position in Rockwell Medical during the 3rd quarter worth approximately $98,000. Renaissance Technologies LLC lifted 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 buying an additional 92,189 shares during the last quarter. Finally, Corsair Capital Management L.P. bought a new position in Rockwell Medical during the 3rd quarter worth approximately $298,000. Hedge funds and other institutional investors own 23.31% of the company’s stock.

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.