Rockwell Medical (NASDAQ:RMTI) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Rockwell Medical (NASDAQ:RMTI) from a buy rating to a hold rating in a research note released on Friday.

A number of other equities analysts have also issued reports on the stock. Rodman & Renshaw started coverage on shares of Rockwell Medical in a research report on Thursday, November 14th. They set a “buy” rating and a $5.00 target price on the stock. RODMAN&RENSHAW raised shares of Rockwell Medical to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, HC Wainwright decreased their target price on Rockwell Medical from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, November 25th.

Rockwell Medical Price Performance

Shares of Rockwell Medical stock opened at $2.08 on Friday. Rockwell Medical has a 1-year low of $1.16 and a 1-year high of $5.15. The firm has a fifty day simple moving average of $2.89 and a 200-day simple moving average of $2.71. The company has a current ratio of 2.41, a quick ratio of 2.00 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $67.22 million, a price-to-earnings ratio of -41.60 and a beta of 1.38.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Armistice Capital LLC lifted its holdings in Rockwell Medical by 22.5% in the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after buying an additional 592,000 shares during the period. Jane Street Group LLC acquired a new position in shares of Rockwell Medical in the 3rd quarter valued at $534,000. Walleye Capital LLC acquired a new position in shares of Rockwell Medical in the 3rd quarter valued at $435,000. Renaissance Technologies LLC boosted its position 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 worth $181,000 after purchasing an additional 92,189 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Rockwell Medical by 21.5% during the third quarter. State Street Corp now owns 95,004 shares of the company’s stock worth $377,000 after purchasing an additional 16,800 shares during the period. 23.31% of the stock is currently owned by institutional investors.

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.