Rockwell Medical, Inc. $RMTI Stock Position Decreased by Armistice Capital LLC

Key Points

• Armistice Capital LLC reduced its holdings in Rockwell Medical, Inc. by 22.3%, selling 677,534 shares and retaining approximately 2.37 million shares valued at $2.67 million.
• Wall Street Zen upgraded Rockwell Medical from a "sell" to a "hold" rating, contributing to a consensus rating of "Buy" with a target price of $4.00.
• Rockwell Medical reported a quarterly revenue of $16.07 million, slightly below analysts' expectations, with an earnings per share of ($0.05) matching consensus estimates.

Armistice Capital LLC lowered its position in Rockwell Medical, Inc. (NASDAQ:RMTI - Free Report) by 22.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,366,144 shares of the company's stock after selling 677,534 shares during the quarter. Armistice Capital LLC owned 6.92% of Rockwell Medical worth $2,674,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Rockwell Medical in the 4th quarter worth $28,000. Barclays PLC lifted its holdings in Rockwell Medical by 27.5% in the 4th quarter. Barclays PLC now owns 28,854 shares of the company's stock worth $59,000 after buying an additional 6,229 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in Rockwell Medical in the 4th quarter worth $146,000. Institutional investors and hedge funds own 23.31% of the company's stock.

Rockwell Medical Stock Down 5.5%

Shares of Rockwell Medical stock traded down $0.10 during trading on Wednesday, reaching $1.73. The company had a trading volume of 3,920,798 shares, compared to its average volume of 1,735,793. The company has a market cap of $59.56 million, a price-to-earnings ratio of -28.83 and a beta of 1.83. The firm's fifty day moving average is $1.10 and its 200-day moving average is $1.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.51 and a current ratio of 2.89. Rockwell Medical, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $5.15.

Rockwell Medical (NASDAQ:RMTI - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). The business had revenue of $16.07 million for the quarter, compared to analyst estimates of $16.33 million. Rockwell Medical had a negative net margin of 2.38% and a negative return on equity of 6.79%. Rockwell Medical has set its FY 2025 guidance at EPS. On average, analysts anticipate that Rockwell Medical, Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Rockwell Medical from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, Rockwell Medical currently has an average rating of "Buy" and a consensus price target of $4.00.

Rockwell Medical Profile

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.