Rockwell Medical (NASDAQ:RMTI) Now Covered by Analysts at Rodman & Renshaw

Rodman & Renshaw initiated coverage on shares of Rockwell Medical (NASDAQ:RMTI) in a research report released on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $5.00 target price on the stock.

A number of other brokerages have also weighed in on RMTI. StockNews.com upgraded Rockwell Medical from a “hold” rating to a “buy” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Rockwell Medical in a report on Wednesday, September 11th.

Rockwell Medical Price Performance

Shares of NASDAQ RMTI traded down $0.05 during midday trading on Thursday, reaching $2.44. The stock had a trading volume of 753,121 shares, compared to its average volume of 362,909. The stock has a 50-day moving average of $3.71 and a 200-day moving average of $2.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 2.41. The company has a market capitalization of $78.86 million, a price-to-earnings ratio of -46.20 and a beta of 1.50. Rockwell Medical has a 12-month low of $1.16 and a 12-month high of $5.15.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $28.32 million during the quarter, compared to analysts’ expectations of $25.99 million. Rockwell Medical had a negative net margin of 1.25% and a positive return on equity of 8.55%. As a group, research analysts anticipate that Rockwell Medical will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

Several hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC grew its position in Rockwell Medical by 75.6% in the 3rd quarter. HighTower Advisors LLC now owns 57,413 shares of the company’s stock valued at $228,000 after acquiring an additional 24,715 shares during the last quarter. Walleye Capital LLC bought a new position in Rockwell Medical in the 3rd quarter valued at $435,000. Corsair Capital Management L.P. purchased a new stake in shares of Rockwell Medical in the 3rd quarter worth $298,000. Verus Capital Partners LLC purchased a new stake in shares of Rockwell Medical in the 3rd quarter worth $51,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of Rockwell Medical in the 3rd quarter worth $40,000. Institutional investors 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.