Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Expands By 32.6%

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 527,000 shares, a growth of 32.6% from the September 15th total of 397,500 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average trading volume of 488,400 shares, the days-to-cover ratio is currently 1.1 days.

Rockwell Medical Stock Up 1.5 %

Shares of Rockwell Medical stock opened at $3.49 on Tuesday. The stock has a market capitalization of $108.29 million, a price-to-earnings ratio of -20.53 and a beta of 1.48. Rockwell Medical has a twelve month low of $1.16 and a twelve month high of $4.57. The company has a current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $3.26 and its 200-day simple moving average is $2.28.

Rockwell Medical (NASDAQ:RMTI) last issued its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. Rockwell Medical had a negative return on equity of 6.96% and a negative net margin of 5.06%. The firm had revenue of $25.83 million for the quarter, compared to analyst estimates of $23.01 million. During the same period last year, the company earned ($0.18) earnings per share. Equities research analysts forecast that Rockwell Medical will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Rockwell Medical

Several hedge funds have recently bought and sold shares of RMTI. SkyOak Wealth LLC grew its position in Rockwell Medical by 47.3% in 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 last quarter. Renaissance Technologies LLC boosted its position in shares of 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. increased its position in Rockwell Medical by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after acquiring an additional 43,302 shares during the period. Finally, Armistice Capital LLC raised its stake in Rockwell Medical by 22.5% during the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after acquiring an additional 592,000 shares in the last quarter. 23.31% of the stock is currently 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.