Rockwell Medical, Inc. (NASDAQ:RMTI) Director Sells $24,000.00 in Stock

Rockwell Medical, Inc. (NASDAQ:RMTI) Director Mark H. Ravich sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $2.40, for a total value of $24,000.00. Following the transaction, the director now owns 121,429 shares of the company’s stock, valued at $291,429.60. This represents a 7.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rockwell Medical Stock Performance

RMTI traded up $0.14 on Tuesday, reaching $2.49. The stock had a trading volume of 1,003,903 shares, compared to its average volume of 370,465. The business’s 50-day moving average price is $3.66 and its two-hundred day moving average price is $2.63. The company has a current ratio of 2.41, a quick ratio of 2.00 and a debt-to-equity ratio of 0.33. Rockwell Medical, Inc. has a 12-month low of $1.16 and a 12-month high of $5.15. The company has a market cap of $80.48 million, a P/E ratio of -50.20 and a beta of 1.50.

Hedge Funds Weigh In On Rockwell Medical

Large investors have recently bought and sold shares of the business. Concurrent Investment Advisors LLC acquired a new stake in Rockwell Medical in the third quarter valued at approximately $40,000. Verus Capital Partners LLC acquired a new stake in Rockwell Medical in the 3rd quarter valued at $51,000. Barclays PLC purchased a new stake in Rockwell Medical in the 3rd quarter worth $90,000. Beacon Financial Advisory LLC acquired a new position in Rockwell Medical during the third quarter worth $98,000. Finally, XTX Topco Ltd lifted its holdings in Rockwell Medical by 45.7% during the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock valued at $113,000 after purchasing an additional 8,922 shares in the last quarter. Institutional investors and hedge funds own 23.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RMTI. StockNews.com raised shares of Rockwell Medical from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Rodman & Renshaw assumed coverage on shares of Rockwell Medical in a report on Thursday, November 14th. They issued a “buy” rating and a $5.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Rockwell Medical in a report on Wednesday, September 11th. Finally, RODMAN&RENSHAW raised Rockwell Medical to a “strong-buy” rating in a research report on Thursday, November 14th.

Rockwell Medical Company Profile

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.