Rockwell Medical (NASDAQ:RMTI) Announces Earnings Results

Rockwell Medical (NASDAQ:RMTI) posted its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04, reports. The business had revenue of $28.32 million for the quarter, compared to analyst estimates of $25.99 million. Rockwell Medical had a positive return on equity of 8.55% and a negative net margin of 1.25%. Rockwell Medical updated its FY 2024 guidance to EPS.

Rockwell Medical Stock Down 5.3 %

Shares of Rockwell Medical stock opened at $2.49 on Friday. The stock has a market capitalization of $80.48 million, a price-to-earnings ratio of -49.80 and a beta of 1.50. The company’s 50 day moving average price is $3.71 and its 200-day moving average price is $2.60. Rockwell Medical has a 52-week low of $1.16 and a 52-week high of $5.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 2.41.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RMTI shares. Rodman & Renshaw assumed coverage on Rockwell Medical in a report on Thursday. They issued a “buy” rating and a $5.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Rockwell Medical in a report on Wednesday, September 11th. RODMAN&RENSHAW raised Rockwell Medical to a “strong-buy” rating in a research note on Thursday. Finally, StockNews.com upgraded Rockwell Medical from a “hold” rating to a “buy” rating in a report on Wednesday.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Concurrent Investment Advisors LLC purchased a new stake in shares of Rockwell Medical in the 3rd quarter worth $40,000. Verus Capital Partners LLC bought a new position in shares of Rockwell Medical during the 3rd quarter worth $51,000. Beacon Financial Advisory LLC purchased a new position in shares of Rockwell Medical in the 3rd quarter valued at $98,000. Renaissance Technologies LLC grew its holdings in Rockwell Medical by 877.1% in the second 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. Finally, Corsair Capital Management L.P. acquired a new position in Rockwell Medical during the 3rd quarter valued at approximately $298,000. 23.31% of the stock is owned by hedge funds and other institutional investors.

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.