Rockwell Medical (NASDAQ:RMTI) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rockwell Medical (NASDAQ:RMTI) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $9.00 price target on the stock.

Separately, StockNews.com upgraded Rockwell Medical from a sell rating to a hold rating in a research report on Wednesday, June 19th.

Rockwell Medical Stock Performance

NASDAQ:RMTI opened at $2.98 on Wednesday. The business has a 50 day simple moving average of $2.28 and a 200 day simple moving average of $1.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.60 and a current ratio of 2.00. Rockwell Medical has a 12-month low of $1.16 and a 12-month high of $3.43.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. The company had revenue of $25.83 million during the quarter, compared to the consensus estimate of $23.01 million. Rockwell Medical had a negative net margin of 5.06% and a negative return on equity of 6.96%. During the same quarter in the previous year, the company posted ($0.18) earnings per share. On average, equities analysts anticipate that Rockwell Medical will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Rockwell Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMTI. SkyOak Wealth LLC lifted its stake 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 worth $42,000 after buying an additional 8,065 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after purchasing an additional 92,189 shares during the period. Vanguard Group Inc. grew its holdings in 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 last quarter. Finally, Armistice Capital LLC raised its stake in 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 during the last quarter. Institutional investors and hedge funds 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.