Rockwell Medical (NASDAQ:RMTI) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Rockwell Medical (NASDAQ:RMTI) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Separately, HC Wainwright decreased their target price on shares of Rockwell Medical from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 24th.

Rockwell Medical Stock Down 1.7%

Rockwell Medical stock opened at $0.98 on Friday. The company has a market cap of $33.47 million, a P/E ratio of -19.59 and a beta of 1.64. Rockwell Medical has a 1-year low of $0.86 and a 1-year high of $5.15. The company has a fifty day simple moving average of $1.09 and a 200 day simple moving average of $1.72. The company has a current ratio of 2.41, a quick ratio of 2.00 and a debt-to-equity ratio of 0.33.

Rockwell Medical (NASDAQ:RMTI) last released its earnings results on Monday, May 12th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The business had revenue of $18.91 million during the quarter, compared to the consensus estimate of $17.46 million. Rockwell Medical had a negative net margin of 1.25% and a positive return on equity of 8.55%. Research analysts anticipate that Rockwell Medical will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Larson Family Inve Irrevocable acquired 57,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The stock was bought at an average price of $1.07 per share, with a total value of $60,990.00. Following the transaction, the insider now directly owns 3,527,000 shares in the company, valued at approximately $3,773,890. The trade was a 1.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 10,680 shares of company stock valued at $11,552 in the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RMTI. Raymond James Financial Inc. acquired a new stake in shares of Rockwell Medical during the 4th quarter worth about $28,000. Two Sigma Securities LLC acquired a new stake in shares of Rockwell Medical during the 4th quarter worth about $33,000. Barclays PLC lifted its stake in shares of Rockwell Medical by 27.5% during the 4th quarter. Barclays PLC now owns 28,854 shares of the company’s stock worth $59,000 after buying an additional 6,229 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Rockwell Medical by 58.0% during the 4th quarter. XTX Topco Ltd now owns 44,962 shares of the company’s stock worth $92,000 after buying an additional 16,507 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Rockwell Medical by 91.3% during the 4th quarter. LPL Financial LLC now owns 54,872 shares of the company’s stock worth $112,000 after buying an additional 26,191 shares during 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.