Rockwell Medical Inc. (RMTI) Sees Unusually-High Trading Volume
Rockwell Medical Inc. (NASDAQ:RMTI) saw an uptick in trading volume on Friday . 325,466 shares changed hands during mid-day trading, an increase of 13% from the previous session’s volume of 287,083 shares.The stock last traded at $7.21 and had previously closed at $7.37.
A number of brokerages have recently commented on RMTI. BTIG Research began coverage on shares of Rockwell Medical in a research note on Friday. They issued a “buy” rating and a $12.00 target price on the stock. Zacks Investment Research raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.
The stock has a 50 day moving average of $7.73 and a 200-day moving average of $7.83. The stock’s market cap is $372.02 million.
Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.01. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.86 million. Rockwell Medical’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts expect that Rockwell Medical Inc. will post ($0.36) earnings per share for the current fiscal year.
In related news, Director Kenneth L. Holt sold 3,692 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $7.31, for a total transaction of $26,988.52. Following the transaction, the director now directly owns 63,475 shares of the company’s stock, valued at $464,002.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Rockwell Medical, Inc (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process.