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

by · The Markets Daily

Rockwell Medical, Inc. (NASDAQ:RMTI – Get Free Report) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 397,500 shares, a growth of 23.6% from the August 31st total of 321,500 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 416,500 shares, the short-interest ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Rockwell Medical in a research report on Wednesday, September 11th. StockNews.com upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th.

Read Our Latest Analysis on Rockwell Medical

Rockwell Medical Price Performance

NASDAQ RMTI opened at $3.66 on Monday. 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 stock has a market cap of $113.57 million, a price-to-earnings ratio of -10.17 and a beta of 1.47. The business has a 50 day simple moving average of $2.89 and a 200 day simple moving average of $2.12. Rockwell Medical has a 52-week low of $1.16 and a 52-week high of $4.57.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RMTI. SkyOak Wealth LLC lifted its stake in Rockwell Medical by 47.3% in the 1st 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. Vanguard Group Inc. grew its position in Rockwell Medical by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after purchasing an additional 43,302 shares in the last quarter. Renaissance Technologies LLC increased its stake in Rockwell Medical by 877.1% in the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after buying an additional 92,189 shares during the last quarter. Finally, Armistice Capital LLC lifted its position in 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. 23.31% of the stock is currently owned by institutional investors.

Rockwell Medical Company Profile

(Get Free Report)

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.

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