Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Short Interest Up 190.3% in March

Rapid Micro Biosystems, Inc. (NASDAQ:RPID - Get Free Report) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 1,180,000 shares, an increase of 190.3% from the February 28th total of 406,500 shares. Currently, 5.8% of the shares of the stock are short sold. Based on an average daily volume of 501,000 shares, the short-interest ratio is presently 2.4 days.

Rapid Micro Biosystems Price Performance

Shares of RPID stock opened at $2.64 on Tuesday. Rapid Micro Biosystems has a one year low of $0.58 and a one year high of $4.04. The company has a market cap of $114.15 million, a P/E ratio of -2.36 and a beta of 1.08. The firm has a 50-day moving average of $2.57 and a 200-day moving average of $1.55.

Rapid Micro Biosystems (NASDAQ:RPID - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.22). Rapid Micro Biosystems had a negative net margin of 184.93% and a negative return on equity of 48.05%. The business had revenue of $8.22 million during the quarter, compared to the consensus estimate of $8.20 million. As a group, research analysts expect that Rapid Micro Biosystems will post -1.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, KeyCorp assumed coverage on shares of Rapid Micro Biosystems in a research report on Wednesday, February 12th. They issued an "overweight" rating and a $8.00 price target on the stock.

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Institutional Trading of Rapid Micro Biosystems

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in Rapid Micro Biosystems by 17.6% during the 4th quarter. Millennium Management LLC now owns 61,375 shares of the company's stock valued at $55,000 after purchasing an additional 9,191 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Rapid Micro Biosystems in the fourth quarter worth $65,000. Finally, Renaissance Technologies LLC raised its holdings in Rapid Micro Biosystems by 122.9% in the fourth quarter. Renaissance Technologies LLC now owns 183,087 shares of the company's stock worth $165,000 after buying an additional 100,942 shares during the last quarter. 52.60% of the stock is owned by institutional investors.

Rapid Micro Biosystems Company Profile

Rapid Micro Biosystems, Inc, a life sciences technology company, provides products for the detection of microbial contamination in the manufacture of pharmaceutical, medical devices, and personal care products in the United States, Germany, Switzerland, Japan, and internationally. The company offers Growth Direct platform, which includes Growth Direct system, proprietary consumables, lab information management system connection software, and customer support and validation services.