Rockwell Medical (NASDAQ:RMTI) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

by · The Markets Daily

Shares of Rockwell Medical, Inc. (NASDAQ:RMTI – Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.25 and traded as high as $3.37. Rockwell Medical shares last traded at $3.28, with a volume of 309,806 shares.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Rockwell Medical in a research report on Wednesday, September 11th. StockNews.com upgraded shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th.

Get Our Latest Report on RMTI

Rockwell Medical Stock Up 4.9 %

The firm has a market capitalization of $104.29 million, a P/E ratio of -9.56 and a beta of 1.48. The firm’s fifty day moving average price is $3.19 and its 200-day moving average price is $2.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.00 and a quick ratio of 1.60.

Rockwell Medical (NASDAQ:RMTI – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. Rockwell Medical had a negative return on equity of 6.96% and a negative net margin of 5.06%. The firm had revenue of $25.83 million during the quarter, compared to analyst estimates of $23.01 million. During the same period last year, the company posted ($0.18) EPS. As a group, equities research analysts forecast that Rockwell Medical, Inc. will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RMTI. Armistice Capital LLC boosted its position in shares of Rockwell Medical by 22.5% during the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after purchasing an additional 592,000 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after purchasing an additional 92,189 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 buying an additional 43,302 shares in the last quarter. Finally, SkyOak Wealth LLC grew its position in Rockwell Medical by 47.3% in the first quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock worth $42,000 after buying an additional 8,065 shares during the last quarter. 23.31% of the stock is owned by institutional investors and hedge funds.

Rockwell Medical Company Profile

(Get Free Report)

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.

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