Rockwell Medical Inc. (RMTI) Stock Price Down 1.1%
Rockwell Medical Inc. (NASDAQ:RMTI) shares dropped 1.1% during mid-day trading on Friday . The company traded as low as $7.02 and last traded at $7.14, with a volume of 162,674 shares changing hands. The stock had previously closed at $7.22.
RMTI has been the subject of a number of analyst reports. Zacks Investment Research cut Rockwell Medical from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. BTIG Research initiated coverage on Rockwell Medical in a report on Friday, August 19th. They set a “buy” rating and a $12.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $11.00.
The firm’s 50 day moving average price is $7.53 and its 200 day moving average price is $7.88. The firm’s market capitalization is $371.50 million.
Rockwell Medical (NASDAQ:RMTI) last posted its earnings results 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. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The company earned $12.50 million during the quarter, compared to analyst estimates of $13.86 million. The company’s revenue was down 3.5% compared to the same quarter last year. Equities research analysts predict that Rockwell Medical Inc. will post ($0.37) EPS for the current 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 stock was 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 approximately $464,002.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth L. Holt sold 9,520 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $6.37, for a total value of $60,642.40. Following the transaction, the director now directly owns 56,048 shares in the company, valued at $357,025.76. The disclosure for this sale can be found here.
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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