Rockwell Medical (NASDAQ:RMTI) Shares Break Above 200-Day Moving Average – Time to Sell?

Shares of Rockwell Medical, Inc. (NASDAQ:RMTI) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $7.72 and traded as high as $8.31. Rockwell Medical shares last traded at $8.22, with a volume of 52,566 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RMTI. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Rockwell Medical in a research report on Friday, September 11th. Wall Street Zen upgraded Rockwell Medical to a “hold” rating in a report on Saturday, July 25th. Finally, Weiss Ratings raised Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.00.

Rockwell Medical Stock Performance

The company has a market cap of $31.80 million, a price-to-earnings ratio of -5.89 and a beta of 1.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.25 and a quick ratio of 3.00. The firm has a fifty day simple moving average of $7.92 and a 200 day simple moving average of $7.70.

Rockwell Medical (NASDAQ:RMTI) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.10). The firm had revenue of $17.78 million for 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, sell-side analysts expect that Rockwell Medical, Inc. will post -0.9 earnings per share 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 position in shares of Rockwell Medical, Inc. (NASDAQ:RMTI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing. Hedge funds and other institutional investors own 23.31% of the company’s stock.

About Rockwell Medical

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.