Rockwell Medical (NASDAQ:RMTI) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Rockwell Medical (NASDAQ:RMTI) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other equities research analysts have also weighed in on RMTI. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Rockwell Medical in a research note on Wednesday, September 11th. Rodman & Renshaw began coverage on Rockwell Medical in a research report on Thursday, November 14th. They set a “buy” rating and a $5.00 price objective for the company. Finally, RODMAN&RENSHAW raised Rockwell Medical to a “strong-buy” rating in a report on Thursday, November 14th.

Rockwell Medical Stock Up 2.3 %

RMTI opened at $2.25 on Thursday. The stock has a market capitalization of $72.72 million, a price-to-earnings ratio of -45.00 and a beta of 1.50. The firm has a 50 day moving average price of $3.53 and a 200-day moving average price of $2.64. Rockwell Medical has a twelve month low of $1.16 and a twelve month high of $5.15. The company has a quick ratio of 2.00, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RMTI. Vanguard Group Inc. increased its stake in shares of Rockwell Medical by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after purchasing an additional 43,302 shares in the last quarter. Armistice Capital LLC grew its holdings in Rockwell Medical by 22.5% during the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after purchasing an additional 592,000 shares during the period. Renaissance Technologies LLC increased its position in Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after buying an additional 92,189 shares in the last quarter. Beacon Financial Advisory LLC bought a new position in shares of Rockwell Medical in the third quarter worth about $98,000. Finally, Verus Capital Partners LLC bought a new position in shares of Rockwell Medical in the third quarter worth about $51,000. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Rockwell Medical Company Profile

Rockwell Medical, Inc, together with its subsidiaries, operates as a healthcare company that engages in the development, manufacture, commercialization, and distribution of various hemodialysis products for dialysis providers worldwide. The company offers Triferic Dialysate and Triferic AVNU which are indicated to maintain hemoglobin in adult undergoing hemodialysis.