HC Wainwright Comments on Rockwell Medical, Inc.’s Q1 2024 Earnings (NASDAQ:RMTI)

Rockwell Medical, Inc. (NASDAQ:RMTI) – Stock analysts at HC Wainwright lifted their Q1 2024 EPS estimates for shares of Rockwell Medical in a report issued on Monday, March 25th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings of ($0.05) per share for the quarter, up from their prior estimate of ($0.07). HC Wainwright currently has a “Buy” rating and a $9.00 target price on the stock. The consensus estimate for Rockwell Medical’s current full-year earnings is ($0.11) per share. HC Wainwright also issued estimates for Rockwell Medical’s Q2 2024 earnings at ($0.03) EPS and Q3 2024 earnings at ($0.02) EPS.

Rockwell Medical Stock Performance

Rockwell Medical stock opened at $1.66 on Wednesday. The firm has a fifty day simple moving average of $1.41 and a two-hundred day simple moving average of $1.71. Rockwell Medical has a twelve month low of $1.16 and a twelve month high of $6.24. The company has a market capitalization of $48.69 million, a PE ratio of -4.15 and a beta of 1.16. The company has a quick ratio of 1.38, a current ratio of 1.73 and a debt-to-equity ratio of 0.46.

Institutional Trading of Rockwell Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. bought a new position in shares of Rockwell Medical during the third quarter valued at approximately $37,000. WealthTrust Axiom LLC purchased a new stake in shares of Rockwell Medical in the 3rd quarter worth about $44,000. Raymond James & Associates boosted its stake in shares of Rockwell Medical by 298.7% during the 3rd quarter. Raymond James & Associates now owns 190,670 shares of the company’s stock valued at $397,000 after purchasing an additional 142,850 shares in the last quarter. Armistice Capital LLC increased its position in shares of Rockwell Medical by 631.7% during the third quarter. Armistice Capital LLC now owns 2,817,000 shares of the company’s stock valued at $5,859,000 after buying an additional 2,432,000 shares during the period. Finally, ClariVest Asset Management LLC bought a new position in Rockwell Medical in the third quarter worth about $279,000. Institutional investors own 23.31% of the company’s stock.

About Rockwell Medical

Rockwell Medical, Inc, together with its subsidiaries, operates as a healthcare company that engages in the development, manufacture, commercialization, and distribution of various hemodialysis products for dialysis providers worldwide. The company offers Triferic Dialysate and Triferic AVNU which are indicated to maintain hemoglobin in adult undergoing hemodialysis.