HC Wainwright Reiterates “Buy” Rating for Rockwell Medical (NASDAQ:RMTI)

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

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

Rockwell Medical Stock Performance

RMTI opened at $3.88 on Wednesday. The stock’s 50 day simple moving average is $2.50 and its 200-day simple moving average is $1.95. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.41. The stock has a market cap of $120.24 million, a PE ratio of -10.76 and a beta of 1.47. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $4.38.

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 firm had revenue of $25.83 million for the quarter, compared to analyst estimates 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 firm posted ($0.18) EPS. Sell-side analysts forecast that Rockwell Medical will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SkyOak Wealth LLC increased its position in shares of 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 purchasing an additional 8,065 shares in the last quarter. Vanguard Group Inc. grew its stake 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 during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after buying an additional 92,189 shares in the last quarter. Finally, Armistice Capital LLC raised its stake in shares of 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 acquiring an additional 592,000 shares during the last quarter. 23.31% of the stock is 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.