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

Rockwell Medical, Inc. (NASDAQ:RMTI) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 1,120,000 shares, a growth of 25.3% from the October 31st total of 893,900 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average daily volume of 797,600 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Trading of Rockwell Medical

Several large investors have recently modified their holdings of RMTI. XTX Topco Ltd lifted its position in Rockwell Medical by 45.7% during the 3rd quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock worth $113,000 after acquiring an additional 8,922 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Rockwell Medical in the third quarter worth about $40,000. Verus Capital Partners LLC acquired a new position in shares of Rockwell Medical during the 3rd quarter worth about $51,000. State Street Corp boosted its stake in Rockwell Medical by 21.5% during the 3rd quarter. State Street Corp now owns 95,004 shares of the company’s stock valued at $377,000 after purchasing an additional 16,800 shares during the period. Finally, Barclays PLC acquired a new stake in Rockwell Medical in the 3rd quarter valued at approximately $90,000. 23.31% of the stock is owned by institutional investors.

Rockwell Medical Stock Performance

Rockwell Medical stock traded up $0.07 during trading hours on Friday, reaching $2.29. 412,981 shares of the company were exchanged, compared to its average volume of 1,258,795. Rockwell Medical has a 12 month low of $1.16 and a 12 month high of $5.15. The company has a current ratio of 2.41, a quick ratio of 2.00 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $3.35 and a 200 day moving average of $2.67. The firm has a market cap of $74.01 million, a price-to-earnings ratio of -45.80 and a beta of 1.50.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RMTI. Rodman & Renshaw initiated coverage on Rockwell Medical in a report on Thursday, November 14th. They set a “buy” rating and a $5.00 price target for the company. RODMAN&RENSHAW upgraded shares of Rockwell Medical to a “strong-buy” rating in a research note on Thursday, November 14th. StockNews.com lowered shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, HC Wainwright reduced their price objective on shares of Rockwell Medical from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, November 25th.

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.