StockNews.com Downgrades Rockwell Medical (NASDAQ:RMTI) to Hold

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

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

Rockwell Medical Stock Performance

NASDAQ:RMTI opened at $2.25 on Thursday. The company has a market cap of $72.72 million, a price-to-earnings ratio of -45.00 and a beta of 1.50. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $5.15. The stock’s 50 day simple moving average is $3.53 and its two-hundred day simple moving average is $2.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 2.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Rockwell Medical by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after acquiring an additional 43,302 shares during the period. Armistice Capital LLC raised its position in Rockwell Medical by 22.5% in the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after purchasing an additional 592,000 shares during the period. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 92,189 shares during the last quarter. Beacon Financial Advisory LLC purchased a new position in shares of Rockwell Medical during the third quarter valued at approximately $98,000. Finally, Verus Capital Partners LLC bought a new position in shares of Rockwell Medical during the third quarter valued at approximately $51,000. 23.31% of the stock is owned by hedge funds and other institutional investors.

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.