Rockwell Medical Inc. (NASDAQ:RMTI)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research report issued to clients and investors on Thursday.
Separately, Zacks Investment Research raised Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $11.00.
Rockwell Medical (NASDAQ:RMTI) traded up 5.9527% during trading on Thursday, hitting $6.9399. The stock had a trading volume of 499,870 shares. The stock has a 50 day moving average of $7.18 and a 200 day moving average of $7.79. The firm’s market capitalization is $357.59 million. Rockwell Medical has a one year low of $5.47 and a one year high of $13.50.
Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The business had revenue of $12.50 million for the quarter, compared to the consensus estimate of $13.86 million. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. Rockwell Medical’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. Equities research analysts expect that Rockwell Medical will post ($0.37) earnings per share for the current fiscal year.
In other news, Director Kenneth L. Holt sold 3,692 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $7.31, for a total value of $26,988.52. Following the completion of the sale, the director now owns 63,475 shares of the company’s stock, valued at approximately $464,002.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth L. Holt sold 9,520 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $6.37, for a total value of $60,642.40. Following the completion of the sale, the director now directly owns 56,048 shares of the company’s stock, valued at approximately $357,025.76. The disclosure for this sale can be found here. Company insiders own 15.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in RMTI. Starfire Investment Advisers Inc. bought a new stake in Rockwell Medical during the second quarter worth $100,000. WealthTrust Axiom LLC bought a new stake in Rockwell Medical during the second quarter worth $100,000. Paloma Partners Management Co bought a new stake in Rockwell Medical during the second quarter worth $125,000. Rehmann Capital Advisory Group raised its stake in Rockwell Medical by 3.6% in the first quarter. Rehmann Capital Advisory Group now owns 17,286 shares of the company’s stock worth $130,000 after buying an additional 600 shares during the period. Finally, InterOcean Capital LLC raised its stake in Rockwell Medical by 3.0% in the second quarter. InterOcean Capital LLC now owns 19,165 shares of the company’s stock worth $145,000 after buying an additional 550 shares during the period. 21.72% of the stock is owned by institutional investors.
Rockwell Medical Company Profile
Rockwell Medical, Inc (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process.
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