Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Down 19.4% in July

Rockwell Medical, Inc. (NASDAQ:RMTI) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totalling 596,800 shares, a decline of 19.4% from the June 30th total of 740,100 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 166,100 shares, the short-interest ratio is currently 3.6 days.

Rockwell Medical Price Performance

NASDAQ RMTI traded up $0.04 during trading hours on Friday, reaching $1.89. The company’s stock had a trading volume of 82,920 shares, compared to its average volume of 147,883. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.79. The company’s 50-day moving average is $1.85 and its two-hundred day moving average is $1.62. Rockwell Medical has a fifty-two week low of $1.16 and a fifty-two week high of $3.72. The stock has a market cap of $57.30 million, a PE ratio of -5.25 and a beta of 1.43.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. Rockwell Medical had a negative net margin of 9.72% and a negative return on equity of 28.29%. The business had revenue of $22.68 million for the quarter, compared to analyst estimates of $21.18 million. During the same period in the prior year, the business earned ($0.10) earnings per share. Analysts forecast that Rockwell Medical will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Rockwell Medical

A number of institutional investors have recently made changes to their positions in RMTI. SkyOak Wealth LLC lifted its position in shares of Rockwell Medical by 47.3% in the first quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock valued at $42,000 after acquiring an additional 8,065 shares in the last quarter. WealthTrust Axiom LLC lifted its holdings in Rockwell Medical by 49.3% in the 4th quarter. WealthTrust Axiom LLC now owns 31,500 shares of the company’s stock valued at $60,000 after purchasing an additional 10,400 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Rockwell Medical by 15.9% during the 4th quarter. Raymond James & Associates now owns 220,979 shares of the company’s stock worth $418,000 after purchasing an additional 30,309 shares during the last quarter. Perkins Capital Management Inc. grew its holdings in shares of Rockwell Medical by 366.3% during the fourth quarter. Perkins Capital Management Inc. now owns 349,934 shares of the company’s stock worth $661,000 after buying an additional 274,891 shares in the last quarter. Finally, 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 worth $1,856,000 after buying an additional 43,302 shares in the last quarter. 23.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rockwell Medical in a research note on Thursday, May 16th.

Rockwell Medical Company Profile

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.