Rockwell Medical (NASDAQ:RMTI) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Rockwell Medical, Inc. (NASDAQ:RMTI) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.01 and traded as high as $8.27. Rockwell Medical shares last traded at $8.17, with a volume of 36,438 shares traded.

Analyst Upgrades and Downgrades

RMTI has been the subject of a number of research reports. Weiss Ratings cut shares of Rockwell Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 20th. Wall Street Zen raised Rockwell Medical to a “hold” rating in a report on Saturday, July 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 target price (up from $2.00) on shares of Rockwell Medical in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.00.

Rockwell Medical Trading Up 5.4%

The business’s 50-day moving average price is $6.73 and its 200-day moving average price is $8.01. The firm has a market capitalization of $32.93 million, a PE ratio of -6.10 and a beta of 1.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.25 and a quick ratio of 3.00.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). Rockwell Medical had a negative return on equity of 14.03% and a negative net margin of 7.33%.The business had revenue of $17.78 million for the quarter, compared to analyst estimates of $17.82 million. As a group, analysts expect that Rockwell Medical, Inc. will post -0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

Several institutional investors have recently added to or reduced their stakes in RMTI. Geode Capital Management LLC boosted its holdings in shares of Rockwell Medical by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock valued at $304,000 after acquiring an additional 41,668 shares in the last quarter. XTX Topco Ltd raised its holdings in Rockwell Medical by 286.5% during the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock worth $52,000 after purchasing an additional 46,029 shares in the last quarter. Corsair Capital Management L.P. acquired a new stake in Rockwell Medical in the first quarter valued at about $45,000. Jane Street Group LLC acquired a new stake in Rockwell Medical in the fourth quarter valued at about $84,000. Finally, Vanguard Group Inc. boosted its holdings in Rockwell Medical by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock valued at $1,625,000 after purchasing an additional 148,737 shares in the last quarter. Institutional investors and hedge funds own 23.31% of the company’s stock.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.

The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.