StockNews.com Begins Coverage on Rockwell Medical (NASDAQ:RMTI)

Equities research analysts at StockNews.com initiated coverage on shares of Rockwell Medical (NASDAQ:RMTIGet Rating) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

NASDAQ RMTI opened at $1.37 on Tuesday. Rockwell Medical has a 12 month low of $1.33 and a 12 month high of $10.96. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 5.21. The company’s 50 day simple moving average is $3.35 and its 200 day simple moving average is $3.97.

Rockwell Medical (NASDAQ:RMTIGet Rating) last posted its quarterly earnings results on Thursday, May 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.15. The firm had revenue of $16.12 million for the quarter, compared to analyst estimates of $18.80 million. Rockwell Medical had a negative net margin of 51.27% and a negative return on equity of 474.88%. During the same quarter in the previous year, the business posted ($0.08) earnings per share. As a group, analysts predict that Rockwell Medical will post -3.56 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new position in Rockwell Medical in the third quarter worth approximately $25,000. Renaissance Technologies LLC grew its position in Rockwell Medical by 81.1% in the fourth quarter. Renaissance Technologies LLC now owns 225,534 shares of the company’s stock worth $92,000 after buying an additional 101,000 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new position in Rockwell Medical in the first quarter worth approximately $106,000. Verdence Capital Advisors LLC grew its position in Rockwell Medical by 25.1% in the fourth quarter. Verdence Capital Advisors LLC now owns 443,545 shares of the company’s stock worth $182,000 after buying an additional 88,980 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its position in Rockwell Medical by 34.5% in the fourth quarter. Perkins Capital Management Inc. now owns 2,957,025 shares of the company’s stock worth $1,212,000 after buying an additional 758,400 shares during the last quarter. Hedge funds and other institutional investors own 27.88% of the company’s stock.

Rockwell Medical Company Profile (Get Rating)

Rockwell Medical, Inc, together with its subsidiaries, operates as a biopharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis in the United States and internationally. The company offers Triferic Dialysate and Triferic AVNU, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores.

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