Rockwell Medical (NASDAQ:RMTI) Lowered to “Sell” at Zacks Investment Research

Rockwell Medical (NASDAQ:RMTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, January 4th.

According to Zacks, “Rockwell Medical Technologies, Inc. manufactures hemodialysis concentrates and dialysis kits, and sells, distributes and delivers such concentrates and dialysis kits, as well as other ancillary hemodialysis products, to hemodialysis providers in the United States. Hemodialysis is a process which is able to duplicate kidney function in patients whose kidneys have failed to function properly. “

Separately, BidaskClub upgraded shares of Rockwell Medical from a “sell” rating to a “hold” rating in a report on Friday, December 15th.

Rockwell Medical (NASDAQ:RMTI) traded up $0.05 during mid-day trading on Thursday, hitting $5.87. 184,200 shares of the company’s stock traded hands, compared to its average volume of 308,000. The stock has a market capitalization of $300.73, a price-to-earnings ratio of -13.65 and a beta of 2.02. Rockwell Medical has a 1-year low of $5.06 and a 1-year high of $8.98.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.10) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). Rockwell Medical had a negative net margin of 39.28% and a negative return on equity of 46.63%. The business had revenue of $14.63 million during the quarter, compared to analyst estimates of $13.33 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. sell-side analysts forecast that Rockwell Medical will post -0.44 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Rockwell Medical by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 249,489 shares of the company’s stock valued at $2,136,000 after acquiring an additional 15,271 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Rockwell Medical by 216.8% in the 2nd quarter. GSA Capital Partners LLP now owns 76,566 shares of the company’s stock worth $607,000 after buying an additional 52,400 shares during the period. Northern Trust Corp increased its holdings in Rockwell Medical by 4.8% in the 2nd quarter. Northern Trust Corp now owns 618,045 shares of the company’s stock worth $4,901,000 after buying an additional 28,482 shares during the period. Athos Capital Ltd acquired a new position in Rockwell Medical in the 3rd quarter worth approximately $6,834,000. Finally, Vanguard Group Inc. increased its holdings in Rockwell Medical by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,080,843 shares of the company’s stock worth $16,501,000 after buying an additional 90,786 shares during the period. Hedge funds and other institutional investors own 21.26% of the company’s stock.

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About Rockwell Medical

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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