Rockwell Medical (NASDAQ:RMTI) Downgraded to “Sell” Rating by Wall Street Zen

Rockwell Medical (NASDAQ:RMTI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, HC Wainwright lowered their price objective on Rockwell Medical from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 24th.

Rockwell Medical Stock Performance

Shares of RMTI opened at $0.98 on Friday. The firm has a market capitalization of $33.47 million, a P/E ratio of -19.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 2.00. The business has a fifty day moving average of $1.11 and a 200 day moving average of $1.78. Rockwell Medical has a one year low of $0.86 and a one year high of $5.15.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Rockwell Medical had a positive return on equity of 8.55% and a negative net margin of 1.25%. The company had revenue of $18.91 million during the quarter, compared to analysts’ expectations of $17.46 million. As a group, sell-side analysts anticipate that Rockwell Medical will post 0.03 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Larson Family Inve Irrevocable bought 57,000 shares of the business’s stock in a transaction dated Thursday, April 10th. The shares were purchased at an average price of $1.07 per share, with a total value of $60,990.00. Following the transaction, the insider now owns 3,527,000 shares in the company, valued at $3,773,890. This trade represents a 1.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 10,680 shares of company stock valued at $11,552 in the last quarter. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Rockwell Medical by 134,397.1% during the third quarter. JPMorgan Chase & Co. now owns 47,074 shares of the company’s stock valued at $187,000 after buying an additional 47,039 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Rockwell Medical during the 4th quarter valued at $28,000. LPL Financial LLC grew its stake in Rockwell Medical by 91.3% in the fourth quarter. LPL Financial LLC now owns 54,872 shares of the company’s stock valued at $112,000 after purchasing an additional 26,191 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Rockwell Medical by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 320,416 shares of the company’s stock worth $654,000 after buying an additional 13,122 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Rockwell Medical by 285.8% during the fourth quarter. Renaissance Technologies LLC now owns 442,350 shares of the company’s stock worth $902,000 after purchasing an additional 327,678 shares in the last quarter. Institutional investors own 23.31% of the company’s stock.

Rockwell Medical Company Profile

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.