HC Wainwright Reaffirms “Buy” Rating for Rockwell Medical (NASDAQ:RMTI)

HC Wainwright reiterated their buy rating on shares of Rockwell Medical (NASDAQ:RMTI) in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a $9.00 price objective on the stock.

Separately, StockNews.com raised shares of Rockwell Medical from a sell rating to a hold rating in a research report on Wednesday, June 19th.

Rockwell Medical Trading Down 2.0 %

Rockwell Medical stock opened at $2.98 on Wednesday. Rockwell Medical has a 12-month low of $1.16 and a 12-month high of $3.43. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $2.28 and its 200 day moving average price is $1.86.

Rockwell Medical (NASDAQ:RMTI) last announced its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $25.83 million for the quarter, compared to analyst estimates of $23.01 million. Rockwell Medical had a negative return on equity of 6.96% and a negative net margin of 5.06%. During the same period in the previous year, the company earned ($0.18) earnings per share. Analysts anticipate that Rockwell Medical will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

A number of hedge funds have recently bought and sold shares of the company. SkyOak Wealth LLC lifted its holdings in Rockwell Medical by 47.3% during the 1st quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock worth $42,000 after buying an additional 8,065 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after purchasing an additional 92,189 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Rockwell Medical by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after purchasing an additional 43,302 shares during the period. Finally, Armistice Capital LLC increased its stake in Rockwell Medical by 22.5% during the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after purchasing an additional 592,000 shares during the last quarter. 23.31% of the stock is currently owned by institutional investors and hedge funds.

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.