5 Best One Dollar Stocks to Buy Now

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In this article, we will be looking at the 5 best one dollar stocks to buy now. If you want to see our detailed analysis of penny stocks, go directly to the 10 Best One Dollar Stocks to Buy Now.

5. Rockwell Medical, Inc. (NASDAQ: RMTI)

Stock Price as of July 16: $0.74
Number of Hedge Fund Holders: 4

Rockwell Medical, Inc. (NASDAQ: RMTI) ranks 5th on the list of 10 best one dollar stocks to buy now. The Michigan-based biopharmaceutical firm sells treatment products and therapies for chronic kidney disease. In addition, Rockwell Medical, Inc. (NASDAQ: RMTI) creates therapeutic candidates for acute heart failure treatment and infusion therapy.

In February, H.C. Wainwright analyst Raghuram Selvaraju maintained a Buy rating on Rockwell Medical, Inc. (NASDAQ: RMTI) and reduced its price target to $5.50 from $9 previously. This, according to the analyst, is related to the relatively low penetration of anemia therapy for dialysis patients, especially Triferic AVNU. The latest price target still presents a strong upside to the current price of the stock.

In June, Rockwell Medical, Inc. (NASDAQ: RMTI) renewed its distribution agreement with Nipro Medical Corporation for three years, until May 2024, enabling RMTI to provide dialysis concentrates to countries throughout the Caribbean and Latin America.

The company has a market cap of $69 million. In the first quarter of 2021, Rockwell Medical, Inc. (NASDAQ: RMTI) had an EPS of -$0.08, beating estimates by $0.01. The company’s revenue in the first quarter came in at $15.5 million, down from $15.9 million in the same period in 2020. 

At the end of the first quarter of 2021, 4 hedge funds in the database of Insider Monkey held stakes worth $2.52 million in Rockwell Medical, Inc. (NASDAQ: RMTI), down from 5 in the previous quarter worth $2.27 million.

Like Novavax, Inc. (NASDAQ: NVAX), Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and Sundial Growers Inc. (NASDAQ: SNDL), Rockwell Medical, Inc. (NASDAQ: RMTI) is a good stock pick for long-term gains, according to market analysts.

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