Rockwell Medical, Inc. (NASDAQ:RMTI) Sees Significant Decline in Short Interest

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 321,500 shares, a decrease of 25.1% from the August 15th total of 429,500 shares. Based on an average daily trading volume, of 347,000 shares, the short-interest ratio is currently 0.9 days. Approximately 1.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RMTI shares. StockNews.com raised Rockwell Medical from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Rockwell Medical in a research note on Wednesday.

Rockwell Medical Stock Performance

Rockwell Medical stock traded down $0.28 during trading hours on Friday, reaching $3.88. 833,522 shares of the stock were exchanged, compared to its average volume of 263,060. Rockwell Medical has a 52-week low of $1.16 and a 52-week high of $4.38. The stock has a market cap of $120.24 million, a P/E ratio of -10.76 and a beta of 1.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.60 and a current ratio of 2.00. The firm’s 50 day moving average is $2.50 and its 200 day moving average is $1.95.

Rockwell Medical (NASDAQ:RMTI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.05. The business had revenue of $25.83 million during the quarter, compared to the consensus estimate of $23.01 million. Rockwell Medical had a negative return on equity of 6.96% and a negative net margin of 5.06%. During the same quarter in the previous year, the company posted ($0.18) EPS. Analysts predict that Rockwell Medical will post -0.03 EPS for the current fiscal year.

Institutional Trading of Rockwell Medical

Large investors have recently modified their holdings of the business. SkyOak Wealth LLC lifted its stake in shares of Rockwell Medical by 47.3% during the 1st 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 lifted its position in Rockwell Medical by 877.1% during the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after buying an additional 92,189 shares during the period. Vanguard Group Inc. boosted its stake in Rockwell Medical by 4.0% in the 1st 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 during the last quarter. Finally, Armistice Capital LLC grew its holdings in Rockwell Medical by 22.5% in the 2nd 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 period. 23.31% of the stock is currently owned by institutional investors and hedge funds.

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.