Rockwell Medical (RMTI) Hits New 52-Week Low at $3.54

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Rockwell Medical Inc (NASDAQ:RMTI)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.54 and last traded at $3.59, with a volume of 457700 shares trading hands. The stock had previously closed at $3.86.

Several equities analysts have recently issued reports on RMTI shares. Ifs Securities reissued an “outperform” rating and set a $11.00 price target on shares of Rockwell Medical in a report on Friday, October 19th. Zacks Investment Research downgraded shares of Rockwell Medical from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Finally, ValuEngine raised shares of Rockwell Medical from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th.

The firm has a market cap of $198.54 million, a PE ratio of -8.59 and a beta of 1.42.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Friday, November 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.05. Rockwell Medical had a negative net margin of 55.38% and a negative return on equity of 89.63%. The company had revenue of $16.67 million during the quarter, compared to the consensus estimate of $15.00 million. As a group, equities research analysts anticipate that Rockwell Medical Inc will post -0.64 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in RMTI. Sigma Investment Counselors Inc. boosted its holdings in shares of Rockwell Medical by 24.3% during the third quarter. Sigma Investment Counselors Inc. now owns 86,834 shares of the company’s stock valued at $366,000 after acquiring an additional 17,000 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Rockwell Medical by 13.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 108,942 shares of the company’s stock worth $538,000 after purchasing an additional 13,042 shares during the period. Raymond James & Associates lifted its holdings in Rockwell Medical by 59.0% in the second quarter. Raymond James & Associates now owns 128,276 shares of the company’s stock worth $632,000 after purchasing an additional 47,600 shares during the period. Finally, BlackRock Inc. lifted its holdings in Rockwell Medical by 0.8% in the third quarter. BlackRock Inc. now owns 3,221,245 shares of the company’s stock worth $13,593,000 after purchasing an additional 25,322 shares during the period. 22.15% of the stock is owned by institutional investors.

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About Rockwell Medical (NASDAQ:RMTI)

Rockwell Medical, Inc operates as an integrated biopharmaceutical company targeting end-stage renal and chronic kidney diseases in the United States and internationally. The company's lead drug includes Triferic, an iron maintenance therapy that replaces the iron lost by patients during hemodialysis treatment.

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