Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Drops By 25.1%

Rockwell Medical, Inc. (NASDAQ:RMTI) saw a significant decrease in short interest in the month of 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. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 347,000 shares, the days-to-cover ratio is presently 0.9 days.

Rockwell Medical Trading Down 6.7 %

RMTI opened at $3.88 on Friday. The company has a fifty day moving average price of $2.50 and a two-hundred day moving average price of $1.95. Rockwell Medical has a 1-year low of $1.16 and a 1-year high of $4.38. The company 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 current ratio of 2.00, a quick ratio of 1.60 and a debt-to-equity ratio of 0.41.

Rockwell Medical (NASDAQ:RMTI) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $23.01 million. During the same quarter last year, the firm posted ($0.18) earnings per share. Analysts predict that Rockwell Medical will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Rockwell Medical

Hedge funds have recently added to or reduced their stakes in the stock. SkyOak Wealth LLC boosted its holdings in 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 acquiring an additional 8,065 shares during the last quarter. Renaissance Technologies LLC grew its position in Rockwell Medical by 877.1% in the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after purchasing an additional 92,189 shares in the last quarter. Vanguard Group Inc. increased 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 valued at $1,856,000 after buying an additional 43,302 shares during the last quarter. Finally, Armistice Capital LLC lifted its position in shares of Rockwell Medical by 22.5% during the 2nd quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after buying an additional 592,000 shares in the last quarter. Institutional investors and hedge funds own 23.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RMTI. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Rockwell Medical in a research report on Wednesday. StockNews.com upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th.

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.