HC Wainwright Weighs in on Rockwell Medical, Inc.’s FY2023 Earnings (NASDAQ:RMTI)

Rockwell Medical, Inc. (NASDAQ:RMTI) – HC Wainwright upped their FY2023 earnings estimates for Rockwell Medical in a research report issued to clients and investors on Wednesday, November 15th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings of ($0.40) per share for the year, up from their prior estimate of ($0.43). HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Rockwell Medical’s current full-year earnings is ($0.43) per share. HC Wainwright also issued estimates for Rockwell Medical’s Q4 2023 earnings at ($0.08) EPS, Q1 2024 earnings at ($0.07) EPS, Q2 2024 earnings at ($0.05) EPS, Q4 2024 earnings at $0.01 EPS and FY2024 earnings at ($0.11) EPS.

RMTI has been the subject of a number of other research reports. Maxim Group began coverage on shares of Rockwell Medical in a report on Thursday, October 5th. They set a “buy” rating and a $5.00 price objective for the company. StockNews.com downgraded shares of Rockwell Medical from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th.

Rockwell Medical Stock Down 5.8 %

RMTI stock opened at $1.95 on Monday. Rockwell Medical has a twelve month low of $0.94 and a twelve month high of $6.24. The company has a quick ratio of 1.25, a current ratio of 1.32 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $1.95 and its 200-day moving average is $2.92. The firm has a market capitalization of $55.56 million, a PE ratio of -3.55 and a beta of 1.46.

Rockwell Medical (NASDAQ:RMTI) last posted its earnings results on Tuesday, November 14th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. The firm had revenue of $23.77 million during the quarter, compared to the consensus estimate of $23.67 million. Rockwell Medical had a negative return on equity of 64.39% and a negative net margin of 11.49%. During the same period last year, the company earned ($0.40) earnings per share.

Institutional Investors Weigh In On Rockwell Medical

Several hedge funds have recently bought and sold shares of RMTI. Virtu Financial LLC bought a new stake in shares of Rockwell Medical during the second quarter valued at approximately $175,000. Ameritas Advisory Services LLC bought a new stake in shares of Rockwell Medical in the 2nd quarter valued at approximately $54,000. Stratos Wealth Partners LTD. purchased a new position in Rockwell Medical during the 2nd quarter valued at $820,000. Sigma Planning Corp purchased a new position in Rockwell Medical during the 1st quarter valued at $46,000. Finally, Raymond James & Associates purchased a new position in Rockwell Medical during the 1st quarter valued at $108,000. 22.07% of the stock is currently 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 patients undergoing hemodialysis.