Rockwell Medical (NASDAQ:RMTI) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Rockwell Medical, Inc. (NASDAQ:RMTI) shares 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 changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Rockwell Medical to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. Zacks Research downgraded shares of Rockwell Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Rockwell Medical in a report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $20.00.

Rockwell Medical Trading Up 17.1%

The company has a market capitalization of $32.60 million, a PE ratio of -6.04 and a beta of 1.75. The company’s fifty day moving average is $7.89 and its 200-day moving average is $8.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.25 and a quick ratio of 3.00.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). The business had revenue of $17.78 million during the quarter, compared to the consensus estimate of $17.82 million. Rockwell Medical had a negative return on equity of 14.03% and a negative net margin of 7.33%. On average, analysts anticipate that Rockwell Medical, Inc. will post -0.90 EPS for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

A hedge fund recently bought a new stake in Rockwell Medical stock. Corsair Capital Management L.P. purchased a new stake in shares of Rockwell Medical, Inc. (NASDAQ:RMTI) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 23.31% of the company’s stock.

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.