Is Rockwell Medical Inc. (NASDAQ: RMTI) Back In The Buying Zone?

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The Vanguard Group, Inc. recently announced the acquisition of new stake in Rockwell Medical Inc. (NASDAQ:RMTI). The institutional investor has increased its shareholding in the Healthcare company by 10.23% to 2.92 million shares with purchase of 0.27 million shares. This fresh investment now brings its stake to 4.23% valued currently at $6.25 million. In addition, SSgA Funds Management, Inc. raised its holdings by 83812.0 to 1.13 million shares. And Perkins Capital Management, Inc. has lifted its position by 29.93% or 0.22 million shares – to 0.97 million shares.

With over 0.51 million Rockwell Medical Inc. (RMTI) shares trading Thursday and a closing price of $1.93 on the day, the dollar volume was approximately $0.98 million. The shares have shown a negative weekly performance of -2.53% and its price on 07/02/20 lost nearly -0.52%. Currently, there are 64.49M common shares owned by the public and among those 59.64M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for RMTI have a consensus price objective of $10.00. The analysts have set the share’s price value over the next 12 months at a high of $11.00 and a low of $9.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Rockwell Medical Inc. stock is 2.00 for the next 12 months. The estimated low will see the stock gain 78.56% over that period. But an upside of 82.45% will see the stock hit the forecast high price target while mean target price for the stock is $10.00.

Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 399,552 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 79,784 shares.

The top 3 mutual fund holders in Rockwell Medical Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 1.85 million shares of the company’s stock, all valued at over $3.95 million. The company has a total holdings of about 2.67% of the shares outstanding. iShares Russell 2000 ETF bought 13409.0 shares to see its total holdings expand to 1.34 million shares valued at over $2.87 million and representing 1.94% of the shares outstanding. Vanguard Extended Market Index Fu has total holdings to over 0.88 million shares at a value of $1.89 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.28% of the shares outstanding.

Shares of Rockwell Medical Inc. (NASDAQ: RMTI) opened at $1.96, up $0.02 from a prior closing price of $1.94. However, the script later closed the day at $1.93, down -0.52%. The company’s stock has a 5-day price change of -2.53% and 2.12% over the past three months. RMTI shares are trading -20.90% year to date (YTD), with the 12-month market performance down to -36.72% lower. It has a 12-month low price of $1.31 and touched a high of $3.85 over the same period. Currently, 0.51 million shares have been traded, compared to an average intraday trading volume of 627.06K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.48%, -9.15%, and -18.84% respectively.

Institutional ownership of Rockwell Medical Inc. (NASDAQ: RMTI) shares accounts for 41.90% of the company’s 64.49M shares outstanding. Mutual fund holders own 17.53%, while other institutional holders and individual stakeholders account for 27.44% and 11.39% respectively.

It has a market capitalization of $134.00M and a beta (3y monthly) value of 1.55. The stock’s earnings-per-share (ttm) stands at -$0.53. The company has a Quick Ratio of 2.70 with the debt-to-equity ratio at 0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.91% over the week and 5.85% over the month.

Analysts forecast that Rockwell Medical Inc. (RMTI) will achieve an EPS of -$0.14 for the current quarter, -$0.13 for the next quarter and -$0.09 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.15 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$0.18 a year ago. Earnings per share for the fiscal year are expected to increase by 7.90%, and 82.40% over the next financial year. EPS should grow at an annualized rate of 27.70% over the next five years, compared to -1.70% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Rockwell Medical Inc. (RMTI) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the RMTI, a number of firms have released research notes about the stock. Piper Jaffray stated their Overweight rating for the stock in a research note on June 24, 2019, with the firm’s price target at $10. H.C. Wainwright coverage for the Rockwell Medical Inc. (RMTI) stock in a research note released on May 13, 2019 offered a Buy rating with a price target of $11. BofA/Merrill was of a view on November 08, 2016 that the stock is Underperform, while Stifel gave the stock Hold rating on March 01, 2016 . Morgan Stanley on their part issued Underweight rating on August 13, 2015.

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