Rockwell Medical, Inc. (NASDAQ:RMTI – Get Free Report) saw a large growth in short interest in 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 sold short. Based on an average trading volume of 507,300 shares, the short-interest ratio is presently 1.6 days.
Analyst Ratings Changes
Separately, HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Rockwell Medical in a research note on Wednesday, September 11th.
Rockwell Medical Price Performance
Shares of Rockwell Medical stock traded up $0.14 during midday trading on Friday, hitting $3.75. 376,335 shares of the company were exchanged, compared to its average volume of 294,485. The firm has a 50 day simple moving average of $3.50 and a 200-day simple moving average of $2.39. Rockwell Medical has a 52 week low of $1.16 and a 52 week high of $4.57. The firm has a market cap of $116.36 million, a P/E ratio of -22.06 and a beta of 1.48. 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 (NASDAQ:RMTI – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The business had revenue of $25.83 million for the quarter, compared to analyst estimates 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) EPS. Research analysts forecast that Rockwell Medical will post -0.03 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Armistice Capital LLC boosted its holdings in Rockwell Medical by 22.5% during the second 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 during the last quarter. Renaissance Technologies LLC boosted its stake 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. grew its holdings in Rockwell Medical by 4.0% during 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 period. 23.31% of the stock is currently 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.