Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Up 91.2% in June

Rockwell Medical, Inc. (NASDAQ:RMTIGet Free Report) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 734,278 shares, an increase of 91.2% from the May 31st total of 383,990 shares. Based on an average daily trading volume, of 386,686 shares, the short-interest ratio is presently 1.9 days. Approximately 2.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

RMTI has been the topic of several research reports. Weiss Ratings downgraded Rockwell Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 15th. Wall Street Zen raised Rockwell Medical from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Rockwell Medical in a research note on Friday, May 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Check Out Our Latest Report on Rockwell Medical

Rockwell Medical Trading Down 3.8%

NASDAQ RMTI traded down $0.21 on Wednesday, reaching $5.30. 53,287 shares of the company were exchanged, compared to its average volume of 50,315. The company has a current ratio of 3.74, a quick ratio of 3.43 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $0.75 and its 200 day moving average price is $0.89. The stock has a market capitalization of $209.07 million, a P/E ratio of -35.31 and a beta of 1.58. Rockwell Medical has a fifty-two week low of $5.21 and a fifty-two week high of $21.00.

Rockwell Medical (NASDAQ:RMTIGet Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.30). Rockwell Medical had a negative return on equity of 15.41% and a negative net margin of 7.98%.The company had revenue of $17.34 million for the quarter, compared to analysts’ expectations of $17.95 million. Analysts forecast that Rockwell Medical will post -0.08 earnings per share for the current year.

Institutional Trading of Rockwell Medical

Several institutional investors have recently made changes to their positions in RMTI. Corsair Capital Management L.P. purchased a new position in Rockwell Medical in the first quarter worth approximately $45,000. Renaissance Technologies LLC increased its position in shares of Rockwell Medical by 36.5% during the 1st quarter. Renaissance Technologies LLC now owns 639,120 shares of the company’s stock worth $571,000 after purchasing an additional 170,800 shares during the last quarter. XTX Topco Ltd increased its position in shares of Rockwell Medical by 286.5% during the 4th quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock worth $52,000 after purchasing an additional 46,029 shares during the last quarter. Jane Street Group LLC purchased a new stake in Rockwell Medical in the 4th quarter valued at about $84,000. Finally, Geode Capital Management LLC raised its holdings in Rockwell Medical by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock valued at $304,000 after buying an additional 41,668 shares during the period. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Rockwell Medical Company Profile

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Rockwell Medical, Inc is a Delaware‐domiciled biopharmaceutical company focused on the development and commercialization of therapies for patients with chronic kidney disease (CKD). The company’s mission centers on addressing common complications in CKD—namely iron deficiency and secondary hyperparathyroidism—through innovative treatment approaches designed for dialysis settings.

The company’s lead product, TRIFERIC®, is an iron replacement therapy approved by the U.S. Food and Drug Administration for use in hemodialysis patients.

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