As of Wednesday close, Rockwell Medical Inc.’s (NASDAQ:RMTI) stock was down -$0.5, moving down -18.12 percent to $2.26. The average number of shares traded per day over the past five days has been 913,160 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.52 fall in that time frame. In the last twenty days, the average volume was 1,002,195, while in the previous 50 days, it was 1,437,072.
Since last month, RMTI stock retreated -43.78%. Shares of the company fell to $2.14 on 08/16/23, the lowest level in the past month. A 52-week high of $6.24 was reached on 07/11/23 after having rallying from a 52-week low of $0.84. Since the beginning of this year, RMTI’s stock price has risen by 122.66% or $1.25, and marked a new high 24 times. However, the stock has declined by -63.78% since its 52-week high.
Valuation Metrics
The stock’s beta is 1.39. Besides these, the trailing price-to-sales (P/S) ratio of 0.82, the price-to-book (PB) ratio of 3.32.
Financial Health
In the three months ended June 29, Rockwell Medical Inc.’s quick ratio stood at 1.60, while its current ratio was 2.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.49, and the total debt-to-equity ratio was 0.74. On the profitability front, the trailing twelve-month gross margin is 9.80% percent. In the year ended June 29, EBITDA margin amounted to -19.49%, whereas operating margins totaled -15.10%. Based on annual data, RMTI earned $4.08 million in gross profit and brought in $72.81 million in revenue.
In Rockwell Medical Inc.’s quarter-end financial report for June 29, it reported total debt of $4.74 million against cash and short-term investments of $5.91 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. RMTI’s revenue fell -3.61% to $19.67 million during the quarter, while net income inched up to $18.03 million. While analysts expected Rockwell Medical Inc. to report -$0.12 quarterly earnings, the actual figure was -$0.18 per share. During the quarter, the company generated -$3.18 million in EBITDA. The liabilities of Rockwell Medical Inc. were 28.51 million at the end of its most recent quarter ended June 29. The value of shareholders’ equity is $28.49 million.
Technical Picture
This quick technical analysis looks at Rockwell Medical Inc.’s (RMTI) price momentum. With a historical volatility rate of 104.21%, the RSI 9-day stood at 23.15% on 16 August.
With respect to its five-day moving average, the current Rockwell Medical Inc. price is down by -18.71% percent or -$0.52. At present, RMTI shares trade -48.40% below its 20-day simple moving average and +63.77% percent above its 100-day simple moving average. However, the stock is currently trading approximately -50.44% below its SMA50 and +133.25% above its SMA200.
Stochastic coefficient K was 13.14% and Stochastic coefficient D was 16.50%, while ATR was 0.37. Given the Stochastic reading of 7.30% for the 14-day period, the RSI (14) reading has been calculated as 30.97%. As of today, the MACD Oscillator reading stands at -0.24, while the 14-day reading stands at -0.44.
Analyst Ratings
Piper Jaffray launched its rating on Rockwell Medical Inc. (NASDAQ: RMTI) to an Overweight in a note to investors on June 24, 2019. Rockwell Medical Inc. (RMTI) has been rated Buy by analysts. According to 0 brokerage firms, RMTI is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Rockwell Medical Inc. stock as buy, with 1 recommending it as overweight.
With a median target price of $11.00, the current consensus forecast for the stock is $11.00 – $11.00. Based on these forecasts, analysts predict Rockwell Medical Inc. (RMTI) will achieve an average price target of $11.00.
