Rockwell Medical (NASDAQ:RMTI) Sees Unusually-High Trading Volume
Rockwell Medical Inc (NASDAQ:RMTI) saw an uptick in trading volume on Wednesday . 2,396,194 shares changed hands during mid-day trading, an increase of 470% from the previous session’s volume of 420,739 shares.The stock last traded at $2.79 and had previously closed at $2.32.
A number of brokerages have recently issued reports on RMTI. Zacks Investment Research cut shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Tuesday. Piper Jaffray Companies reduced their price objective on shares of Rockwell Medical from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Rockwell Medical in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Rockwell Medical currently has an average rating of “Buy” and an average price target of $9.33.
The company has a market capitalization of $184.19 million, a PE ratio of -5.53 and a beta of 1.49. The company’s 50 day moving average is $2.33 and its two-hundred day moving average is $2.54. The company has a quick ratio of 2.98, a current ratio of 3.27 and a debt-to-equity ratio of 0.07.
A number of institutional investors and hedge funds have recently bought and sold shares of RMTI. Dillon & Associates Inc. purchased a new position in Rockwell Medical during the third quarter valued at $34,000. Royal Bank of Canada grew its stake in Rockwell Medical by 61.7% during the second quarter. Royal Bank of Canada now owns 12,125 shares of the company’s stock valued at $37,000 after acquiring an additional 4,625 shares in the last quarter. Marshall Wace LLP purchased a new position in Rockwell Medical during the first quarter valued at $57,000. Gabelli Funds LLC grew its stake in Rockwell Medical by 31.0% during the third quarter. Gabelli Funds LLC now owns 21,121 shares of the company’s stock valued at $58,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Jag Capital Management LLC grew its stake in Rockwell Medical by 19.4% during the third quarter. Jag Capital Management LLC now owns 30,750 shares of the company’s stock valued at $85,000 after acquiring an additional 5,000 shares in the last quarter. 21.20% of the stock is owned by institutional investors.
Rockwell Medical Company Profile (NASDAQ:RMTI)
Rockwell Medical, Inc operates as a specialty pharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.
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