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Rockwell Medical (NASDAQ:RMTIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

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, StockNews.com initiated coverage on shares of Rockwell Medical in a report on Saturday, May 21st. They issued a “hold” rating for the company.

Rockwell Medical stock opened at $1.52 on Friday. The company’s 50 day simple moving average is $4.04 and its 200-day simple moving average is $4.29. Rockwell Medical has a 1 year low of $1.46 and a 1 year high of $11.66. The company has a debt-to-equity ratio of 5.21, a current ratio of 1.27 and a quick ratio of 1.49.

Rockwell Medical (NASDAQ:RMTIGet Rating) last announced its quarterly earnings data on Thursday, May 19th. The company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.15. The firm had revenue of $16.12 million during the quarter, compared to analysts’ expectations of $18.80 million. Rockwell Medical had a negative net margin of 51.27% and a negative return on equity of 474.88%. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Analysts predict that Rockwell Medical will post -3.74 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in Rockwell Medical during the 1st quarter worth about $57,000. Metropolitan Life Insurance Co NY purchased a new position in shares of Rockwell Medical during the first quarter worth about $106,000. Verdence Capital Advisors LLC grew its holdings in shares of Rockwell Medical by 25.1% during the fourth quarter. Verdence Capital Advisors LLC now owns 443,545 shares of the company’s stock worth $182,000 after purchasing an additional 88,980 shares during the last quarter. Perkins Capital Management Inc. grew its holdings in shares of Rockwell Medical by 34.5% during the fourth quarter. Perkins Capital Management Inc. now owns 2,957,025 shares of the company’s stock worth $1,212,000 after purchasing an additional 758,400 shares during the last quarter. Finally, Richmond Brothers Inc. purchased a new position in shares of Rockwell Medical during the fourth quarter worth about $2,853,000. 27.88% of the stock is currently owned by hedge funds and other institutional investors.

About Rockwell Medical (Get Rating)

Rockwell Medical, Inc, together with its subsidiaries, operates as a biopharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis in the United States and internationally. The company offers Triferic Dialysate and Triferic AVNU, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores.

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