Rockwell Medical (RMTI) Downgraded by BidaskClub to Sell

Rockwell Medical (NASDAQ:RMTI) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Separately, Zacks Investment Research upgraded shares of Rockwell Medical from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Wednesday, October 25th.

Rockwell Medical (NASDAQ RMTI) traded up $0.22 during trading on Thursday, hitting $5.92. 210,547 shares of the stock traded hands, compared to its average volume of 335,037. The stock has a market cap of $318.25, a PE ratio of -13.77 and a beta of 2.02. Rockwell Medical has a 12-month low of $5.06 and a 12-month high of $8.98.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Wednesday, November 8th. The company reported ($0.10) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). The firm had revenue of $14.63 million for the quarter, compared to analysts’ expectations of $13.33 million. Rockwell Medical had a negative net margin of 34.57% and a negative return on equity of 47.93%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) EPS. equities research analysts forecast that Rockwell Medical will post -0.44 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in Rockwell Medical by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 249,489 shares of the company’s stock worth $2,136,000 after purchasing an additional 15,271 shares during the period. Athos Capital Ltd purchased a new position in Rockwell Medical in the 3rd quarter worth $6,834,000. Raymond James Financial Services Advisors Inc. purchased a new position in Rockwell Medical in the 3rd quarter worth $107,000. National Asset Management Inc. purchased a new position in Rockwell Medical in the 2nd quarter worth $203,000. Finally, State Street Corp raised its position in Rockwell Medical by 7.4% in the 2nd quarter. State Street Corp now owns 903,142 shares of the company’s stock worth $7,160,000 after purchasing an additional 62,094 shares during the period. Institutional investors own 21.26% of the company’s stock.

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About Rockwell Medical

Rockwell Medical, Inc (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process.

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