Rockwell Medical (NASDAQ:RMTI) Upgraded at StockNews.com

StockNews.com upgraded shares of Rockwell Medical (NASDAQ:RMTI) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Rockwell Medical in a research note on Wednesday, September 11th.

Rockwell Medical Stock Performance

NASDAQ RMTI opened at $2.36 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.60. The firm has a market capitalization of $76.11 million, a price-to-earnings ratio of -47.20 and a beta of 1.50. The company’s fifty day moving average is $3.70 and its two-hundred day moving average is $2.60. Rockwell Medical has a 52-week low of $1.16 and a 52-week high of $5.15.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Barclays PLC acquired a new position in Rockwell Medical during the third quarter worth $90,000. XTX Topco Ltd grew its stake in shares of Rockwell Medical by 45.7% in the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock valued at $113,000 after acquiring an additional 8,922 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Rockwell Medical in the third quarter valued at about $534,000. State Street Corp grew its stake in shares of Rockwell Medical by 21.5% in the third quarter. State Street Corp now owns 95,004 shares of the company’s stock valued at $377,000 after acquiring an additional 16,800 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Rockwell Medical by 75.6% in the third 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 in the last quarter. Institutional investors and hedge funds 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.