Rockwell Medical (NASDAQ:RMTI) Stock Price Breaks Above 200-Day Moving Average – Time to Sell?

Shares of Rockwell Medical, Inc. (NASDAQ:RMTI) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $7.78 and traded as high as $8.73. Rockwell Medical shares last traded at $8.68, with a volume of 12,965 shares traded.

Analyst Ratings Changes

A number of brokerages have commented on RMTI. Weiss Ratings downgraded shares of Rockwell Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 21st. Wall Street Zen raised Rockwell Medical to a “hold” rating in a report on Saturday, July 25th. Finally, HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Rockwell Medical in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.00.

Rockwell Medical Stock Performance

The firm has a fifty day simple moving average of $7.76 and a 200-day simple moving average of $7.78. 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 company has a market cap of $34.54 million, a PE ratio of -6.40 and a beta of 1.64.

Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.10). The firm had revenue of $17.78 million during the quarter, compared to analysts’ expectations of $17.82 million. Rockwell Medical had a negative net margin of 7.33% and a negative return on equity of 14.03%. On average, research analysts forecast that Rockwell Medical, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Trading of Rockwell Medical

An institutional investor recently raised its stake in Rockwell Medical stock. Renaissance Technologies LLC grew its stake in Rockwell Medical, Inc. (NASDAQ:RMTI) by 36.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 639,120 shares of the company’s stock after purchasing an additional 170,800 shares during the period. Renaissance Technologies LLC owned approximately 1.62% of Rockwell Medical worth $571,000 at the end of the most recent reporting period. 23.31% of the stock is owned by hedge funds and other institutional investors.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a healthcare company focused on products used in the treatment of patients with end-stage renal disease who receive hemodialysis. The company develops, manufactures and distributes hemodialysis concentrates, including acid and bicarbonate products used to prepare dialysate, the fluid that helps remove waste and excess fluid from the blood during treatment.

Rockwell Medical’s product portfolio also includes Triferic, an iron-replacement therapy based on ferric pyrophosphate citrate.