Rockwell Medical (NASDAQ:RMTI) Stock Price Crosses Above 200-Day Moving Average Following Analyst Downgrade

Rockwell Medical, Inc. (NASDAQ:RMTI) shares crossed above its two hundred day moving average during trading on Thursday after Weiss Ratings upgraded the stock from a sell (e+) rating to a sell (d-) rating. The stock has a two hundred day moving average of $7.63 and traded as high as $8.24. Rockwell Medical shares last traded at $7.98, with a volume of 79,288 shares changing hands.

A number of other equities analysts have also issued reports on RMTI. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Rockwell Medical in a research note on Friday, September 11th. Wall Street Zen upgraded Rockwell Medical to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Rockwell Medical has an average rating of “Reduce” and an average price target of $20.00.

Hedge Funds Weigh In On Rockwell Medical

An institutional investor recently bought a new stake in Rockwell Medical stock. Corsair Capital Management L.P. bought a new position in Rockwell Medical, Inc. (NASDAQ:RMTI) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 as of its most recent SEC filing. Institutional investors and hedge funds own 23.31% of the company’s stock.

Rockwell Medical Stock Down 6.9%

The stock has a market cap of $29.94 million, a PE ratio of -5.54 and a beta of 1.63. The business has a 50 day moving average price of $7.98 and a 200 day moving average price of $7.63. The company has a quick ratio of 3.00, a current ratio of 3.25 and a debt-to-equity ratio of 0.21.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly 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). Rockwell Medical had a negative net margin of 7.33% and a negative return on equity of 14.03%. The company had revenue of $17.78 million for the quarter, compared to analysts’ expectations of $17.82 million. Equities research analysts expect that Rockwell Medical, Inc. will post -0.90 EPS for the current fiscal year.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a biopharmaceutical company focused on developing and commercializing products for the treatment of iron deficiency and anemia associated with chronic kidney disease, particularly in patients receiving hemodialysis. The company’s products are designed to support iron management while addressing the needs of dialysis providers and their patients.

Rockwell Medical’s principal products include Triferic, an iron replacement therapy delivered through the dialysate during hemodialysis, and Triferic AVNU, an intravenous formulation.