Rockwell Medical (NASDAQ:RMTI) Stock Price Passes Above 200 Day Moving Average of $1.60

Rockwell Medical, Inc. (NASDAQ:RMTI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.60 and traded as high as $1.77. Rockwell Medical shares last traded at $1.76, with a volume of 57,722 shares traded.

Analyst Upgrades and Downgrades

RMTI has been the subject of a number of recent research reports. StockNews.com upgraded shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Rockwell Medical in a research report on Thursday, May 16th.

Rockwell Medical Price Performance

The stock has a market capitalization of $53.36 million, a P/E ratio of -4.89 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 1.38. The company’s 50-day simple moving average is $1.72 and its 200-day simple moving average is $1.60.

Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Tuesday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Rockwell Medical had a negative net margin of 9.72% and a negative return on equity of 28.29%. The company had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $21.18 million. During the same period in the prior year, the firm earned ($0.10) EPS. As a group, sell-side analysts expect that Rockwell Medical, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Rockwell Medical

A number of large investors have recently added to or reduced their stakes in the business. SkyOak Wealth LLC increased its holdings in shares of Rockwell Medical by 47.3% in the first quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock valued at $42,000 after purchasing an additional 8,065 shares during the last quarter. WealthTrust Axiom LLC grew its stake in 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 buying an additional 10,400 shares during the last quarter. Raymond James & Associates raised its holdings in 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 acquiring an additional 30,309 shares during the period. Perkins Capital Management Inc. lifted its position in Rockwell Medical by 366.3% during the fourth quarter. Perkins Capital Management Inc. now owns 349,934 shares of the company’s stock worth $661,000 after acquiring an additional 274,891 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 43,302 shares during the period. Institutional investors own 23.31% of the company’s stock.

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.