Rockwell Medical Inc. (RMTI) Director Sells $101,781.00 in Stock
Rockwell Medical Inc. (NASDAQ:RMTI) Director Kenneth L. Holt sold 19,725 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $5.16, for a total transaction of $101,781.00. Following the sale, the director now directly owns 32,355 shares in the company, valued at $166,951.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Rockwell Medical Inc. (NASDAQ:RMTI) opened at 6.02 on Thursday. The stock’s 50 day moving average is $5.99 and its 200 day moving average is $7.38. The stock’s market capitalization is $310.19 million. Rockwell Medical Inc. has a 12-month low of $3.55 and a 12-month high of $12.42.
Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Monday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Rockwell Medical had a negative net margin of 37.98% and a negative return on equity of 33.60%. The firm had revenue of $12.81 million for the quarter, compared to analysts’ expectations of $15.40 million. During the same period last year, the firm earned ($0.05) earnings per share. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. Analysts forecast that Rockwell Medical Inc. will post ($0.39) EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Starfire Investment Advisers Inc. acquired a new position in shares of Rockwell Medical during the second quarter worth about $100,000. WealthTrust Axiom LLC acquired a new position in shares of Rockwell Medical during the second quarter worth about $100,000. Paloma Partners Management Co acquired a new position in shares of Rockwell Medical during the second quarter worth about $125,000. US Bancorp DE acquired a new position in shares of Rockwell Medical during the third quarter worth about $124,000. Finally, InterOcean Capital LLC boosted its position in shares of Rockwell Medical by 3.0% in the second quarter. InterOcean Capital LLC now owns 19,165 shares of the company’s stock worth $145,000 after buying an additional 550 shares during the last quarter. 21.42% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on RMTI shares. BTIG Research reissued a “buy” rating and set a $12.00 target price on shares of Rockwell Medical in a research note on Thursday, September 22nd. Zacks Investment Research raised shares of Rockwell Medical from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research note on Thursday, November 10th. Finally, Bank of America Corp. downgraded shares of Rockwell Medical from a “neutral” rating to an “underperform” rating and cut their target price for the company from $9.00 to $5.00 in a research note on Tuesday, November 8th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Rockwell Medical presently has a consensus rating of “Hold” and a consensus price target of $7.38.
Rockwell Medical Company Profile
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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