In the last trading session, 1,960,257 shares of the Rockwell Medical, Inc.(NASDAQ:RMTI) were traded, and its beta was 1.08. Most recently the company’s share price was $1.63, and it changed around $0.02 or 0.01% from the last close, which brings the market valuation of the company to $152.52 Million. RMTI currently trades at a discount to its 52-week high of $3.85, offering almost -136.2% off that amount. The share price’s 52-week low was $0.83, which indicates that the current value has risen by an impressive 49.08% since then. We note from Rockwell Medical, Inc.’s average daily trading volume that its 10-day average is 2.25 Million shares, with the 3-month average coming to 2.02 Million.
Rockwell Medical, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 2 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended RMTI as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Rockwell Medical, Inc. is expected to report earnings per share of -$0.08 for the current quarter.
Rockwell Medical, Inc. (NASDAQ:RMTI): Trading Information
Instantly RMTI has showed a green trend with a performance of 1.24% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $1.86 on Friday, Feb 12 increased the stock’s daily price by 12.37%. The company’s shares are currently up 0.61% year-to-date, but still down -0.0412 over the last five days. On the other hand, Rockwell Medical, Inc. (NASDAQ:RMTI) is 0.34% up in the 30-day period. We can see from the shorts that 2.15 Million shares have been sold at a short interest cover period of 1.06 day(s).
The consensus price target as assigned by Wall Street analysts is $5.25, which translates to bears needing to increase their stock price by 222.09% from its current value. Analyst projections state that RMTI is forecast to be at a low of $5 and a high of $5.5. In order for the stock price to hit the forecast high, the stock would need to surge +237.42% from its current level, while the stock would need to crash 206.75% from its current level to reach the projected low.
Rockwell Medical, Inc. (RMTI) projections and forecasts
Rockwell Medical, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +2.52 percent over the past six months and at a 28.57% annual growth rate that is well above the industry average of 13.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +27.3% in revenue this quarter, and will report an increase of 33.3% in the next quarter. The year-over-year growth rate is expected to be 2.3%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $15.66 Million in revenue for the current quarter. 1 analysts expect Rockwell Medical, Inc. to make $18.2 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarter a year ago was $15.49 Million. Analysts predict that the company’s current quarter sales will jump, forecast at 1.1%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -1.7%. Rockwell Medical, Inc. earnings are expected to increase by 7.9% in 2021, but the outlook is positive 38% per year for the next five years.
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Rockwell Medical, Inc. (NASDAQ:RMTI)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 2.26% of Rockwell Medical, Inc. shares, and 45.15% of them are in the hands of institutional investors. The stock currently has a share float of 46.2%. Rockwell Medical, Inc. stock is held by 115 institutions, with CVI Holdings, LLC being the largest institutional investor. By Sep 29, 2020, it held 5.67% of the shares, which is about 5.3 Million shares worth $5.67 Million.
Blackrock Inc., with 5.12% or 4.79 Million shares worth $4.84 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.