Richmond Brothers Inc. Has $487,000 Position in Rockwell Medical, Inc. (NASDAQ:RMTI)

Richmond Brothers Inc. reduced its holdings in shares of Rockwell Medical, Inc. (NASDAQ:RMTI) by 14.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 276,828 shares of the company’s stock after selling 45,423 shares during the period. Rockwell Medical accounts for approximately 1.0% of Richmond Brothers Inc.’s investment portfolio, making the stock its 14th biggest holding. Richmond Brothers Inc.’s holdings in Rockwell Medical were worth $487,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SkyOak Wealth LLC grew its holdings 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. Renaissance Technologies LLC grew its stake in shares of Rockwell Medical by 877.1% in the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after buying an additional 92,189 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Rockwell Medical by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after buying an additional 43,302 shares during the period. 23.31% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Medical Price Performance

Shares of NASDAQ RMTI opened at $4.02 on Thursday. Rockwell Medical, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $4.38. The firm’s 50-day simple moving average is $2.62 and its 200 day simple moving average is $2.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.60 and a current ratio of 2.00. The stock has a market cap of $121.87 million, a price-to-earnings ratio of -11.17 and a beta of 1.47.

Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. Rockwell Medical had a negative net margin of 5.06% and a negative return on equity of 6.96%. The firm had revenue of $25.83 million for the quarter, compared to analysts’ expectations of $23.01 million. During the same quarter last year, the firm earned ($0.18) EPS. As a group, research analysts anticipate that Rockwell Medical, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RMTI has been the subject of several research reports. StockNews.com upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Rockwell Medical in a research note on Wednesday, September 11th.

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.