Rockwell Medical, Inc. (NASDAQ:RMTI) price closed lower on Monday, Nov 23, sinking -1.52% below its previous close.
A look at the daily price movement shows that the previous day close read $0.96, with intraday deals fluctuating between $0.9200 and $0.9946. The company’s 5Y monthly beta was ticking 1.07 while its P/E ratio in the trailing 12-month period read 0. Taking into account the 52-week price action we note that the stock hit a 52-week high of $3.85 and 52-week low of $0.83. The stock lost -1.68% on its value in the past month.
Rockwell Medical, Inc., which has a market valuation of $91.24 Million as of writing, is expected to release its quarterly earnings report on 44144. The company stock has a Forward Dividend ratio of 0, while the dividend yield is 0. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking RMTI have forecast the quarterly EPS to grow by -$0.08 per share this quarter, while the same analysts predict the annual EPS to hit -$0.38 for the year 2020 and up to -$0.19 for 2021. In this case, analysts estimate an annual EPS growth of -0.32% for the year and -0.5% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $19.66 Million, with the likely lows of $15.3 Million and highs of $24.01 Million. The average estimate suggests sales revenue for the quarter will likely rise by 26.9% when compared to those recorded in the quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $67.8 Million for the company’s annual revenue in 2020. Per this outlook, the revenue is forecast to grow +10.6% above that which the company brought in 2019.
On the technical perspective front, indicators give RMTI a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 2 analysts have assigned RMTI a recommendation rating as follows: None rate it as a Hold; 2 advise Buy while none analyst(s) assign an Outperform rating. None analyst(s) have tagged the Rockwell Medical, Inc. (RMTI) stock as Underperform, with none recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
If we dive deeper into the stock’s outlook we see the positive picture represented by the PEG ratio, currently standing at 0. The overview shows that RMTI’s price is at present 2.8% off the SMA20 and -10% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 47.43, with weekly volatility standing at 6.26%. The indicator drops to 5.91% when calculated based on the past 30 days. Rockwell Medical, Inc. (NASDAQ:RMTI)’s beta value is holding at 1.07, while the average true range (ATR) indicator is presently reading 0.05. Considering analysts have assigned the stock a price target range of $5-$9 as the low and high respectively, we find the trailing 12-month average consensus price target to be $7. Based on this estimate, we see that current price is roughly 431.91% off the estimated low and 857.45% off the forecast high. Investors will no doubt be excited should the share price rise to $7, which is the median consensus price, and at which level RMTI would be +644.68% from current price.
Turning out attention to how the Rockwell Medical, Inc. stock has performed in comparison to its peers in the industry, here’s what we find: RMTI’s stock is -1.52% on the day and -57.86% in the past 12 months, while Abbott Laboratories (ABT) is trading -1.46% in the latest session and is positioned +30.49% up on its price 12 months ago. Another comparison is with Medtronic Inc (MDT) whose stock price is up 0.74% in the current trading session, and has flourished +0.14% over the past year. Also, Stryker Corp (SYK) currently showed downtrend of -1.52% while its price kept floating at -57.86% over the past year. As for Rockwell Medical, Inc., the P/E ratio stands at 0 lower than that of Abbott Laboratories’s at 58.12 and Medtronic Inc’s 34.24. Elsewhere in the market, the S&P 500 Index has rallied 0.56% in today’s early trading, with the Dow Jones Industrial also seeing a positive session so far with +1.12%.
An analysis of the Rockwell Medical, Inc. (NASDAQ:RMTI) stock in terms of its daily trading volume indicates that the 3-month average is 1.97 Million. However, this figure increases on the past 10-day timeline to an average of 883.57 Million.
As of now, records show that the company has 93.57 Million in outstanding shares. According to data from Thomson, insiders’ percentage holdings are 4.01% of outstanding shares while the percentage share held by institutions stands at 45.25%. The stats also highlight that short interest as of October 29, 2020, stood at 3.06 Million shares, which puts the short ratio at the time at 2.47. From this we can glean that short interest is 3.27% of company’s current outstanding shares. Notably, we see that shares short in October fell slightly given the previous month’s figure stood at 4.22 Million. But the -61.32% downside the stock’s price has registered year-to-date as of today’s value will likely reignite investor interest given the prospect of it rallying even higher.
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