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

Rockwell Medical, Inc. (NASDAQ:RMTI - Get Free Report) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 321,500 shares, a drop of 25.1% from the August 15th total of 429,500 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 347,000 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Investors Weigh In On Rockwell Medical

A number of hedge funds have recently modified their holdings of the business. SkyOak Wealth LLC boosted 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 worth $42,000 after purchasing an additional 8,065 shares during the period. 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. grew its holdings in shares of Rockwell Medical by 4.0% during the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company's stock worth $1,856,000 after buying an additional 43,302 shares in the last quarter. Finally, Armistice Capital LLC raised its position in 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 buying an additional 592,000 shares during the last quarter. Institutional investors and hedge funds own 23.31% of the company's stock.

Rockwell Medical Trading Down 6.7 %

RMTI traded down $0.28 during midday trading on Friday, reaching $3.88. 833,522 shares of the company were exchanged, compared to its average volume of 263,060. The stock has a market capitalization of $120.24 million, a P/E ratio of -10.76 and a beta of 1.47. Rockwell Medical has a one year low of $1.16 and a one year high of $4.38. The stock's 50-day simple moving average is $2.50 and its 200 day simple moving average is $1.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.60 and a current ratio of 2.00.

Rockwell Medical (NASDAQ:RMTI - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $25.83 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned ($0.18) earnings per share. As a group, analysts forecast that Rockwell Medical will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RMTI has been the subject of several research reports. StockNews.com raised Rockwell Medical from a "sell" rating to a "hold" rating in a research note on Wednesday, June 19th. HC Wainwright restated a "buy" rating and issued a $9.00 price objective on shares of Rockwell Medical in a report on Wednesday.

Rockwell Medical Company Profile

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.