Rockwell Medical Inc. (RMTI) Sees Large Volume Increase
Rockwell Medical Inc. (NASDAQ:RMTI) shares saw unusually-high trading volume on Friday . Approximately 325,466 shares traded 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.
RMTI has been the topic of a number of research reports. Zacks Investment Research lowered shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. BTIG Research initiated coverage on shares of Rockwell Medical in a research note on Friday. They issued a “buy” rating and a $12.00 price target on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Rockwell Medical has an average rating of “Hold” and a consensus target price of $11.00.
The stock’s 50 day moving average price is $7.71 and its 200-day moving average price is $7.83. The firm’s market capitalization is $372.02 million.
Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $13.86 million. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) earnings per share. On average, analysts expect that Rockwell Medical Inc. will post ($0.36) earnings per share for the current fiscal year.
In other Rockwell Medical news, Director Kenneth L. Holt sold 3,692 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $7.31, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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.
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