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

Rockwell Medical, Inc. (NASDAQ:RMTI - Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 823,400 shares, a growth of 56.2% from the September 30th total of 527,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 507,300 shares, the short-interest ratio is presently 1.6 days.

Rockwell Medical Price Performance

Shares of Rockwell Medical stock traded up $0.14 during trading on Friday, hitting $3.75. 376,335 shares of the stock traded hands, compared to its average volume of 294,485. The stock has a market cap of $113.69 million, a price-to-earnings ratio of -10.42 and a beta of 1.48. The company has a quick ratio of 1.60, a current ratio of 2.00 and a debt-to-equity ratio of 0.41. Rockwell Medical has a 52 week low of $1.16 and a 52 week high of $4.57. The firm's fifty day moving average is $3.50 and its 200-day moving average is $2.39.

Rockwell Medical (NASDAQ:RMTI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates 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 last year, the business earned ($0.18) earnings per share. Research analysts expect that Rockwell Medical will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "buy" rating and set a $9.00 price objective on shares of Rockwell Medical in a report on Wednesday, September 11th.

Institutional Trading of Rockwell Medical

Several hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC grew its stake in shares of Rockwell Medical by 22.5% during the second 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. Renaissance Technologies LLC grew its position in Rockwell Medical by 877.1% during the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company's stock worth $181,000 after acquiring an additional 92,189 shares during the last quarter. Finally, 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 worth $1,856,000 after purchasing an additional 43,302 shares during the period. 23.31% of the stock is owned by institutional investors.

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.