Rockwell Medical (NASDAQ:RMTI) Shares Cross Above Two Hundred Day Moving Average After Analyst Downgrade

Rockwell Medical, Inc. (NASDAQ:RMTI) shares passed above its 200-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 200-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 trading hands.

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

Institutional Trading of Rockwell Medical

An institutional investor recently bought a new stake in Rockwell Medical stock. Corsair Capital Management L.P. acquired a new position in shares of Rockwell Medical, Inc. (NASDAQ:RMTI) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 50,000 shares of the company’s stock, valued at approximately $45,000. Corsair Capital Management L.P. owned approximately 0.13% of Rockwell Medical at the end of the most recent quarter. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Rockwell Medical Trading 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 of $7.98 and a 200 day moving average of $7.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.00 and a current ratio of 3.25.

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

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.