Rockwell Medical (NASDAQ:RMTI) Share Price Crosses Above 200-Day Moving Average of $1.60

Shares of Rockwell Medical, Inc. (NASDAQ:RMTI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.60 and traded as high as $1.77. Rockwell Medical shares last traded at $1.76, with a volume of 57,722 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RMTI shares. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rockwell Medical in a research note on Thursday, May 16th. StockNews.com raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th.

Rockwell Medical Stock Performance

The business’s 50-day moving average price is $1.73 and its two-hundred day moving average price is $1.60. The company has a current ratio of 1.79, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $21.18 million. Rockwell Medical had a negative net margin of 9.72% and a negative return on equity of 28.29%. During the same period last year, the firm posted ($0.10) earnings per share. As a group, equities analysts anticipate that Rockwell Medical, Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rockwell Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in RMTI. SkyOak Wealth LLC raised its holdings in shares of Rockwell Medical by 47.3% during the first quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock worth $42,000 after acquiring an additional 8,065 shares during the period. WealthTrust Axiom LLC raised its holdings in shares of Rockwell Medical by 49.3% during the fourth quarter. WealthTrust Axiom LLC now owns 31,500 shares of the company’s stock worth $60,000 after acquiring an additional 10,400 shares during the period. Raymond James & Associates raised its holdings in shares of Rockwell Medical by 15.9% during the fourth quarter. Raymond James & Associates now owns 220,979 shares of the company’s stock worth $418,000 after acquiring an additional 30,309 shares during the period. Perkins Capital Management Inc. raised its holdings in shares of Rockwell Medical by 366.3% during the fourth quarter. Perkins Capital Management Inc. now owns 349,934 shares of the company’s stock worth $661,000 after acquiring an additional 274,891 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Rockwell Medical by 4.0% during the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after acquiring an additional 43,302 shares during the period. 23.31% of the stock is currently owned by institutional investors and hedge funds.

About Rockwell Medical

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.