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Rockwell Medical , Inc. (NASDAQ:RMTI) President and CEO, Mark Strobeck, recently executed a sale of company shares, according to a filing with the Securities and Exchange Commission. The transaction comes as the stock trades near its 52-week low of $1.06, having declined over 70% in the past six months. According to InvestingPro analysis, the stock currently shows oversold conditions. On April 1, Strobeck sold 6,926 shares of common stock, generating a total of $7,480. The shares were sold at a weighted average price of $1.08, with the transactions carried out under a Rule 10b5-1 trading plan.
Following the sale, Strobeck retains ownership of 124,678 shares of Rockwell Medical. This transaction was part of multiple trades executed at prices ranging from $1.065 to $1.12, as noted in the filing.
In other recent news, Rockwell Medical reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share (EPS) of $0.04, compared to a forecast of $0. The company also achieved a 21% increase in full-year net sales, reaching $101.5 million. Despite these positive results, analysts at H.C. Wainwright revised their outlook, lowering the price target for Rockwell Medical to $3.00 from the previous $7.00, while maintaining a Buy rating. This adjustment reflects concerns about future revenue losses, as Rockwell Medical’s largest customer plans to transition its volume to another supplier by mid-2025, potentially resulting in a $34 million revenue decline. In response, Rockwell Medical is working to reduce expenses and exploring new business opportunities, including international market expansion and new product launches. The company provided a 2025 revenue guidance range of $65-70 million, a decrease from the previously estimated $87.6 million. Despite the anticipated challenges, Rockwell Medical remains engaged in discussions with its largest customer regarding potential future collaborations.
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