Rockwell Medical (NASDAQ:RMTI) Shares Cross Above 200-Day Moving Average – Should You Sell?

Rockwell Medical, Inc. (NASDAQ:RMTI) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.85 and traded as high as $8.10. Rockwell Medical shares last traded at $8.04, with a volume of 36,508 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RMTI. Weiss Ratings upgraded Rockwell Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 3rd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Rockwell Medical in a research report on Friday. Finally, Wall Street Zen upgraded Rockwell Medical to a “hold” rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

Rockwell Medical Trading Down 1.0%

The company has a quick ratio of 3.00, a current ratio of 3.25 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $32.08 million, a PE ratio of -5.94 and a beta of 1.64. The business’s 50-day moving average is $7.12 and its two-hundred day moving average is $7.85.

Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). Rockwell Medical had a negative return on equity of 14.03% and a negative net margin of 7.33%.The firm had revenue of $17.78 million for the quarter, compared to analyst estimates of $17.82 million. On average, analysts anticipate that Rockwell Medical, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rockwell Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMTI. Renaissance Technologies LLC raised its stake in Rockwell Medical by 36.5% during the 1st quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock valued at $571,000 after acquiring an additional 170,800 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Rockwell Medical by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock valued at $1,625,000 after purchasing an additional 148,737 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Rockwell Medical in the 4th quarter valued at approximately $84,000. Corsair Capital Management L.P. acquired a new position in shares of Rockwell Medical in the first quarter valued at approximately $45,000. Finally, XTX Topco Ltd increased its holdings in shares of Rockwell Medical by 286.5% in the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after purchasing an additional 46,029 shares during the period. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Rockwell Medical Company Profile

Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.

The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.