Rockwell Medical (NASDAQ:RMTI) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Rockwell Medical's stock price has surpassed its 200-day moving average of $1.16, trading as high as $1.67 recently, with the last recorded price at $1.59.
• Wall Street Zen upgraded the stock from a "sell" to a "hold" rating, and Rockwell Medical holds a consensus rating of "Buy" with an average price target of $4.00.
• The company reported earnings per share of ($0.05) for the last quarter, matching analyst estimates, with revenues of $16.07 million, slightly below expectations of $16.33 million.

Rockwell Medical, Inc. (NASDAQ:RMTI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.16 and traded as high as $1.67. Rockwell Medical shares last traded at $1.59, with a volume of 2,708,244 shares trading hands.

Analyst Ratings Changes

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

Rockwell Medical Stock Down 4.1%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.51 and a current ratio of 2.89. The stock has a market capitalization of $55.78 million, a price-to-earnings ratio of -27.00 and a beta of 1.83. The firm's fifty day simple moving average is $1.22 and its 200 day simple moving average is $1.16.

Rockwell Medical (NASDAQ:RMTI - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $16.07 million during the quarter, compared to analysts' expectations 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, sell-side analysts forecast that Rockwell Medical, Inc. will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On Rockwell Medical

Large investors have recently modified their holdings of the stock. Barclays PLC raised its position in shares of Rockwell Medical by 27.5% in the fourth quarter. Barclays PLC now owns 28,854 shares of the company's stock valued at $59,000 after purchasing an additional 6,229 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of Rockwell Medical during the second quarter worth $41,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Rockwell Medical during the fourth quarter worth $146,000. 23.31% of the stock is owned by institutional investors.

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.