In today’s recent session, 0.42 million shares of the Rockwell Medical Inc (NASDAQ:RMTI) have been traded, and its beta is 1.51. Most recently the company’s share price was $3.30, and it changed around -$0.09 or -2.66% from the last close, which brings the market valuation of the company to $102.54M. RMTI at last check was trading at a discount to its 52-week high of $4.57, offering almost -38.48% off that amount. The share price’s 52-week low was $1.16, which indicates that the recent value has risen by an impressive 64.85% since then. We note from Rockwell Medical Inc’s average daily trading volume that its 10-day average is 0.5 million shares, with the 3-month average coming to 481.19K.
Rockwell Medical Inc stock received a consensus recommendation rating of Hold, based on a mean score of 1.00. If we narrow it down even further, the data shows that 1 out of 3 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended RMTI as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Rockwell Medical Inc is expected to report earnings per share of 0.01 for the current quarter.
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Rockwell Medical Inc (NASDAQ:RMTI) trade information
Instantly RMTI has been showing red trend so far today with a performance of -2.66% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 3.80 on recent trading dayincreased the stock’s daily price by 13.16%. The company’s shares are currently up 74.85% year-to-date, but still down -9.21% over the last five days. On the other hand, Rockwell Medical Inc (NASDAQ:RMTI) is -12.80% down in the 30-day period. We can see from the shorts that 0.4 million shares have been sold at a short interest cover period of 0.54 day(s).
The consensus price target as assigned by Wall Street analysts is $9, which translates to bulls needing to increase their stock price by 63.33% from its current value. Analyst projections state that RMTI is forecast to be at a low of $9 and a high of $9.
Rockwell Medical Inc (RMTI) estimates 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 109.16 percent over the past six months and at a 82.35% annual growth rate that is well above the industry average of 12.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 114.30% in revenue this quarter, and will report an increase of 120.00% in the next quarter. The year-over-year growth rate is expected to be 19.80%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of 26.5M in revenue for the current quarter. 2 analysts expect Rockwell Medical Inc to make 25.16M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 23.77M and 22.09M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 11.50%. Forecasts for the next quarter put sales growth at 13.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 44.20%. Rockwell Medical Inc earnings are expected to increase by 91.67% in 2024, but the outlook is positive 38.00% per year for the next five years.
RMTI Dividends
Rockwell Medical Inc’s next quarterly earnings report is expected to be released on 2024-Nov-12.
Rockwell Medical Inc (NASDAQ:RMTI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 12.33% of Rockwell Medical Inc shares, and 21.01% of them are in the hands of institutional investors. The stock currently has a share float of 23.97%. Rockwell Medical Inc stock is held by 37.0 institutions, with ARMISTICE CAPITAL, LLC being the largest institutional investor. By 2024-06-30, it held 10.9852% of the shares, which is about 3.22 million shares worth $5.67 million.
VANGUARD GROUP INC, with 3.8131% or 1.12 million shares worth $1.97 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
