Rockwell Medical (NASDAQ:RMTI) Stock Passes Above 200 Day Moving Average – What’s Next?

Rockwell Medical, Inc. (NASDAQ:RMTI)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.34 and traded as high as $3.52. Rockwell Medical shares last traded at $3.48, with a volume of 165,938 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Rockwell Medical in a report on Wednesday, September 11th.

Rockwell Medical Stock Performance

The business has a 50 day moving average price of $3.41 and a 200 day moving average price of $2.34. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.41.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. Rockwell Medical had a negative return on equity of 6.96% and a negative net margin of 5.06%. The company had revenue of $25.83 million for the quarter, compared to analysts’ expectations of $23.01 million. During the same period last year, the firm posted ($0.18) earnings per share. As a group, equities analysts anticipate that Rockwell Medical, Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Rockwell Medical

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after acquiring an additional 92,189 shares during the period. Vanguard Group Inc. lifted its holdings in 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. Finally, Armistice Capital LLC lifted its holdings in Rockwell Medical by 22.5% in the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after acquiring an additional 592,000 shares during the period. 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.