Huntington National Bank maintained its stake in shares of Rockwell Medical Inc. (NASDAQ:RMTI) during the second quarter, Holdings Channel reports. The firm owned 12,000 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Rockwell Medical were worth $131,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Rehmann Capital Advisory Group raised its stake in shares of Rockwell Medical by 37.8% in the second quarter. Rehmann Capital Advisory Group now owns 23,828 shares of the company’s stock worth $180,000 after buying an additional 6,542 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Rockwell Medical during the second quarter worth approximately $236,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Rockwell Medical by 26.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 43,247 shares of the company’s stock worth $325,000 after buying an additional 9,178 shares during the period. Palo Capital Inc. acquired a new stake in shares of Rockwell Medical during the second quarter worth approximately $372,000. Finally, UBS Group AG raised its stake in shares of Rockwell Medical by 45.8% in the first quarter. UBS Group AG now owns 68,900 shares of the company’s stock worth $517,000 after buying an additional 21,629 shares during the period. Institutional investors and hedge funds own 21.72% of the company’s stock.
Shares of Rockwell Medical Inc. (NASDAQ:RMTI) traded up 0.91% during trading on Friday, hitting $6.67. The stock had a trading volume of 154,318 shares. The firm’s market capitalization is $343.68 million. Rockwell Medical Inc. has a 1-year low of $5.47 and a 1-year high of $13.50. The stock’s 50-day moving average price is $6.91 and its 200 day moving average price is $7.81.
Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Monday, August 8th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by $0.01. Rockwell Medical had a negative net margin of 33.04% and a negative return on equity of 28.90%. The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $13.86 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts anticipate that Rockwell Medical Inc. will post ($0.37) earnings per share for the current year.
Several analysts have issued reports on RMTI shares. BTIG Research restated a “buy” rating and issued a $12.00 target price on shares of Rockwell Medical in a research note on Thursday, September 22nd. Zacks Investment Research upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.00.
In other news, Director Kenneth L. Holt sold 3,692 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $7.31, for a total transaction of $26,988.52. Following the transaction, the director now directly owns 63,475 shares of the company’s stock, valued at approximately $464,002.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth L. Holt sold 9,520 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $6.37, for a total value of $60,642.40. Following the transaction, the director now directly owns 56,048 shares in the company, valued at $357,025.76. The disclosure for this sale can be found here. Company insiders own 15.90% of the company’s stock.
About Rockwell Medical
Rockwell Medical, Inc (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process.
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