Rockwell Medical (NASDAQ:RMTI) Stock Rating Lowered by Wall Street Zen

Wall Street Zen cut shares of Rockwell Medical (NASDAQ:RMTI) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Separately, HC Wainwright dropped their price objective on shares of Rockwell Medical from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, March 24th.

Rockwell Medical Price Performance

Shares of Rockwell Medical stock opened at $0.98 on Friday. Rockwell Medical has a twelve month low of $0.86 and a twelve month high of $5.15. The company has a quick ratio of 2.00, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The company has a 50-day simple moving average of $1.09 and a two-hundred day simple moving average of $1.72. The stock has a market capitalization of $33.47 million, a price-to-earnings ratio of -19.59 and a beta of 1.64.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Rockwell Medical had a positive return on equity of 8.55% and a negative net margin of 1.25%. The business had revenue of $18.91 million during the quarter, compared to analyst estimates of $17.46 million. Analysts forecast that Rockwell Medical will post 0.03 EPS for the current year.

Insider Activity

In other news, major shareholder Larson Family Inve Irrevocable bought 57,000 shares of the company’s stock in a transaction dated Thursday, April 10th. The stock was bought at an average cost of $1.07 per share, for a total transaction of $60,990.00. Following the transaction, the insider now owns 3,527,000 shares of the company’s stock, valued at $3,773,890. This represents a 1.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 10,680 shares of company stock worth $11,552. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rockwell Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP raised its position in shares of Rockwell Medical by 17.2% in the 4th quarter. Marshall Wace LLP now owns 596,359 shares of the company’s stock valued at $1,217,000 after buying an additional 87,685 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Rockwell Medical by 285.8% in the 4th quarter. Renaissance Technologies LLC now owns 442,350 shares of the company’s stock valued at $902,000 after buying an additional 327,678 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Rockwell Medical by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 320,416 shares of the company’s stock valued at $654,000 after buying an additional 13,122 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Rockwell Medical in the 4th quarter valued at approximately $146,000. Finally, LPL Financial LLC raised its position in shares of Rockwell Medical by 91.3% in the 4th quarter. LPL Financial LLC now owns 54,872 shares of the company’s stock valued at $112,000 after buying an additional 26,191 shares in the last quarter. 23.31% of the stock is currently owned by institutional investors and hedge funds.

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.