Why Rockwell Medical (RMTI) Dipped More Than Broader Market Today

The most recent trading session ended with Rockwell Medical (RMTI) standing at $1.34, reflecting a -0.74% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.

Shares of the maker of products used in the treatment of kidney disease and anemia have depreciated by 6.25% over the course of the past month, underperforming the Medical sector's gain of 4.52% and the S&P 500's gain of 3.56%.

Market participants will be closely following the financial results of Rockwell Medical in its upcoming release. The company plans to announce its earnings on March 21, 2024. The company's upcoming EPS is projected at -$0.08, signifying a 60% increase compared to the same quarter of the previous year.

Investors should also take note of any recent adjustments to analyst estimates for Rockwell Medical. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rockwell Medical is currently a Zacks Rank #3 (Hold).

The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 156, placing it within the bottom 39% of over 250 industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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Rockwell Medical, Inc. (RMTI) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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