Rockwell Medical (NASDAQ:RMTI) Earns Hold Rating from Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of Rockwell Medical (NASDAQ:RMTI – Get Rating) in a report issued on Monday. The firm set a “hold” rating on the stock.

Rockwell Medical Stock Performance

Rockwell Medical stock opened at $1.89 on Monday. The firm has a 50 day simple moving average of $1.10 and a 200-day simple moving average of $1.30. Rockwell Medical has a 1-year low of $0.84 and a 1-year high of $5.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.93.

Rockwell Medical (NASDAQ:RMTI – Get Rating) last issued its quarterly earnings results on Monday, November 14th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.03). Rockwell Medical had a negative net margin of 36.70% and a negative return on equity of 297.10%. The business had revenue of $18.69 million during the quarter, compared to analysts’ expectations of $19.70 million. Sell-side analysts anticipate that Rockwell Medical will post -2.11 earnings per share for the current year.

Institutional Trading of Rockwell Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in Rockwell Medical during the third quarter worth about $28,000. Renaissance Technologies LLC increased its position in Rockwell Medical by 24.7% during the first quarter. Renaissance Technologies LLC now owns 281,234 shares of the company’s stock worth $133,000 after purchasing an additional 55,700 shares during the last quarter. Finally, Armistice Capital LLC increased its position in Rockwell Medical by 364.4% during the third quarter. Armistice Capital LLC now owns 959,000 shares of the company’s stock worth $1,266,000 after purchasing an additional 752,490 shares during the last quarter. Hedge funds and other institutional investors own 27.62% of the company’s stock.

About Rockwell Medical

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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.