In the latest trading session, 0.46 million Rockwell Medical Inc (NASDAQ:RMTI) shares changed hands as the company’s beta touched 1.37. With the company’s most recent per share price at $2.16 changed hands at -$0.08 or -3.57% at last look, the market valuation stands at $69.80M. RMTI’s current price is a discount, trading about -138.43% off its 52-week high of $5.15. The share price had its 52-week low at $1.16, which suggests the last value was 46.3% up since then. When we look at Rockwell Medical Inc’s average trading volume, we note the 10-day average is 0.8 million shares, with the 3-month average coming to 813.10K.
Analysts gave the Rockwell Medical Inc (RMTI) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended RMTI as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Rockwell Medical Inc’s EPS for the current quarter is expected to be 0.
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Rockwell Medical Inc (NASDAQ:RMTI) trade information
Instantly RMTI was in red as seen in intraday trades today. With action -6.49%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 14.29%, with the 5-day performance at -6.49% in the red. However, in the 30-day time frame, Rockwell Medical Inc (NASDAQ:RMTI) is -43.01% down. Looking at the short shares, we see there were 0.82 million shares sold at short interest cover period of 1.51 days.
The consensus price target for the stock as assigned by Wall Street analysts is 9, meaning bulls need an upside of 76.0% from its recent market value. According to analyst projections, RMTI’s forecast low is 9 with 9 as the target high. To hit the forecast high, the stock’s price needs a -316.67% plunge from its current level, while the stock would need to soar -316.67% for it to hit the projected low.
Rockwell Medical Inc (RMTI) estimates and forecasts
Data shows that the Rockwell Medical Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 22.73% over the past 6 months, a 117.65% in annual growth rate that is considerably higher than the industry average of 11.00%. Year-over-year growth is forecast to reach 20.17% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of 23.65M. 2 analysts are of the opinion that Rockwell Medical Inc’s revenue for the current quarter will be 19.12M. The company’s revenue for the corresponding quarters a year ago was 22.09M and 22.68M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 7.06%. The estimates for the next quarter sales put growth at -15.67%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 44.20%. The 2024 estimates are for Rockwell Medical Inc earnings to increase by 102.78%, but the outlook for the next 5-year period is at 38.00% per year.
RMTI Dividends
Rockwell Medical Inc is expected to release its next quarterly earnings report in January.
Rockwell Medical Inc (NASDAQ:RMTI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 12.33% of Rockwell Medical Inc shares while 21.27% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 24.26%. There are 21.27% institutions holding the Rockwell Medical Inc stock share, with ARMISTICE CAPITAL, LLC the top institutional holder. As of 2024-06-30, the company held 10.9852% of the shares, roughly 3.22 million RMTI shares worth $5.67 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 3.8131% or 1.12 million shares worth $1.97 million as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 759.62 shares estimated at $1.65 million under it, the former controlled 2.35% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.10% of the shares, roughly 355.64 shares worth around $0.77 million.
