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

StockNews.com upgraded shares of Rockwell Medical (NASDAQ:RMTI) from a sell rating to a hold rating in a research report report published on Wednesday.

Separately, HC Wainwright reiterated a buy rating and set a $9.00 target price on shares of Rockwell Medical in a research note on Thursday, May 16th.

Rockwell Medical Price Performance

Shares of NASDAQ RMTI opened at $1.85 on Wednesday. The firm has a market cap of $56.09 million, a P/E ratio of -5.14 and a beta of 1.29. The company has a current ratio of 1.79, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Rockwell Medical has a 1-year low of $1.16 and a 1-year high of $6.24. The business’s 50 day moving average is $1.69 and its 200-day moving average is $1.60.

Rockwell Medical (NASDAQ:RMTI) last announced its earnings results on Tuesday, May 14th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $22.68 million for the quarter, compared to analyst estimates of $21.18 million. Rockwell Medical had a negative return on equity of 28.29% and a negative net margin of 9.72%. During the same quarter last year, the company earned ($0.10) earnings per share. Equities research analysts predict that Rockwell Medical will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Rockwell Medical

A number of hedge funds have recently added to or reduced their stakes in RMTI. SkyOak Wealth LLC increased its stake in Rockwell Medical by 47.3% during the 1st quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock worth $42,000 after acquiring an additional 8,065 shares during the period. WealthTrust Axiom LLC increased its stake in shares of Rockwell Medical by 49.3% in the 4th quarter. WealthTrust Axiom LLC now owns 31,500 shares of the company’s stock valued at $60,000 after purchasing an additional 10,400 shares during the last quarter. ClariVest Asset Management LLC bought a new position in shares of Rockwell Medical in the 3rd quarter valued at $279,000. Raymond James & Associates increased its stake in shares of Rockwell Medical by 15.9% in the 4th quarter. Raymond James & Associates now owns 220,979 shares of the company’s stock valued at $418,000 after purchasing an additional 30,309 shares during the last quarter. Finally, Perkins Capital Management Inc. increased its stake in shares of Rockwell Medical by 366.3% in the 4th quarter. Perkins Capital Management Inc. now owns 349,934 shares of the company’s stock valued at $661,000 after purchasing an additional 274,891 shares during the last quarter. 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.