Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Update

Rockwell Medical, Inc. (NASDAQ:RMTI) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 321,500 shares, a decline 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 short-interest ratio is presently 0.9 days.

Rockwell Medical Stock Down 6.7 %

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Rockwell Medical in a research note on Wednesday. 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 large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings 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 during the last quarter. Renaissance Technologies LLC increased its position in shares of 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 during the last quarter. Armistice Capital LLC raised its stake in shares of 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 purchasing an additional 592,000 shares in the last quarter. Finally, SkyOak Wealth LLC lifted its position in shares of Rockwell Medical by 47.3% during the first 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. 23.31% of the stock is currently owned by institutional investors and hedge funds.

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.