Rockwell Medical (NASDAQ:RMTI) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

Rockwell Medical, Inc. (NASDAQ:RMTI) crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $7.89 and traded as high as $8.24. Rockwell Medical shares last traded at $8.09, with a volume of 63,345 shares traded.

Analysts Set New Price Targets

RMTI has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. Zacks Research lowered shares of Rockwell Medical from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Rockwell Medical in a research report on Friday, September 11th. Finally, Wall Street Zen upgraded Rockwell Medical to a “hold” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $20.00.

Rockwell Medical Price Performance

The firm has a market cap of $32.60 million, a PE ratio of -6.04 and a beta of 1.75. The company has a quick ratio of 3.00, a current ratio of 3.25 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $7.89 and a two-hundred day moving average price of $8.22.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.10). The company had revenue of $17.78 million for the quarter, compared to analyst estimates of $17.82 million. Rockwell Medical had a negative net margin of 7.33% and a negative return on equity of 14.03%. As a group, equities analysts expect that Rockwell Medical, Inc. will post -0.90 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Rockwell Medical stock. Corsair Capital Management L.P. purchased a new position in Rockwell Medical, Inc. (NASDAQ:RMTI) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 50,000 shares of the company’s stock, valued at approximately $45,000. Corsair Capital Management L.P. owned about 0.13% of Rockwell Medical at the end of the most recent quarter. 23.31% of the stock is owned by institutional investors.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a healthcare company focused on developing, manufacturing and commercializing products used in the treatment of patients with end-stage renal disease (ESRD) who receive hemodialysis. The company supplies products intended to support anemia management and other aspects of dialysis care.

Its principal pharmaceutical product is Triferic, an iron replacement therapy designed to deliver iron to hemodialysis patients through the dialysate. Rockwell Medical also markets Triferic AVNU, an intravenous formulation administered during hemodialysis.