Shares of Rockwell Medical Inc (NASDAQ:RMTI) reached a new 52-week low on Thursday . The stock traded as low as $2.94 and last traded at $2.96, with a volume of 5311 shares trading hands. The stock had previously closed at $3.05.

RMTI has been the topic of several research analyst reports. ValuEngine upgraded Rockwell Medical from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Ifs Securities reiterated an “outperform” rating and set a $11.00 price target on shares of Rockwell Medical in a research note on Friday, October 19th. Finally, Zacks Investment Research downgraded Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th.

The company has a market cap of $173.78 million, a price-to-earnings ratio of -5.86 and a beta of 1.28.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings results on Friday, November 9th. The company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.05. The business had revenue of $16.67 million for the quarter, compared to the consensus estimate of $15.00 million. Rockwell Medical had a negative return on equity of 117.31% and a negative net margin of 53.40%. As a group, research analysts expect that Rockwell Medical Inc will post -0.57 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Rockwell Medical by 0.8% in the 3rd quarter. BlackRock Inc. now owns 3,221,245 shares of the company’s stock valued at $13,593,000 after buying an additional 25,322 shares during the period. Raymond James & Associates lifted its holdings in shares of Rockwell Medical by 59.0% in the 2nd quarter. Raymond James & Associates now owns 128,276 shares of the company’s stock valued at $632,000 after buying an additional 47,600 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Rockwell Medical by 13.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 108,942 shares of the company’s stock valued at $538,000 after buying an additional 13,042 shares during the period. Bridgeway Capital Management Inc. lifted its holdings in shares of Rockwell Medical by 160.6% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 91,200 shares of the company’s stock valued at $385,000 after buying an additional 56,200 shares during the period. Finally, Sigma Investment Counselors Inc. lifted its holdings in shares of Rockwell Medical by 24.3% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 86,834 shares of the company’s stock valued at $366,000 after buying an additional 17,000 shares during the period. Institutional investors and hedge funds own 20.18% of the company’s stock.

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Rockwell Medical Company Profile (NASDAQ:RMTI)

Rockwell Medical, Inc operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally. The company's lead drug includes Triferic, an iron maintenance therapy that replaces the iron lost by patients during hemodialysis treatment.

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