Rockwell Medical, Inc. (NASDAQ:RMTI) Sees Large Increase in Short Interest

Rockwell Medical, Inc. (NASDAQ:RMTI) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 397,500 shares, a growth of 23.6% from the August 31st total of 321,500 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 416,500 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RMTI shares. StockNews.com raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Rockwell Medical in a report on Wednesday, September 11th.

Rockwell Medical Price Performance

NASDAQ:RMTI traded down $0.11 during midday trading on Friday, hitting $3.66. The company had a trading volume of 563,015 shares, compared to its average volume of 774,421. Rockwell Medical has a 52-week low of $1.16 and a 52-week high of $4.57. The stock’s fifty day moving average price is $2.89 and its 200-day moving average price is $2.12. The company has a market capitalization of $113.57 million, a PE ratio of -10.17 and a beta of 1.47. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.41.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $25.83 million during the quarter, compared to the consensus estimate of $23.01 million. Rockwell Medical had a negative net margin of 5.06% and a negative return on equity of 6.96%. During the same period in the prior year, the firm posted ($0.18) earnings per share. As a group, research analysts expect that Rockwell Medical will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Rockwell Medical

Institutional investors have recently bought and sold shares of the stock. SkyOak Wealth LLC grew its holdings in Rockwell Medical by 47.3% in the first quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock worth $42,000 after purchasing an additional 8,065 shares during the period. Renaissance Technologies LLC grew its holdings in Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after purchasing an additional 92,189 shares during the period. Vanguard Group Inc. grew its holdings in shares of Rockwell Medical by 4.0% during the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after buying an additional 43,302 shares during the last quarter. Finally, Armistice Capital LLC grew its holdings in shares of Rockwell Medical by 22.5% during the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after buying an additional 592,000 shares during the last quarter. 23.31% of the stock is owned by institutional investors.

About Rockwell Medical

Rockwell Medical, Inc, together with its subsidiaries, operates as a healthcare company that engages in the development, manufacture, commercialization, and distribution of various hemodialysis products for dialysis providers worldwide. The company offers Triferic Dialysate and Triferic AVNU which are indicated to maintain hemoglobin in adult undergoing hemodialysis.