Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Down 60.9% in April

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 387,448 shares, a drop of 60.9% from the April 15th total of 990,637 shares. Based on an average trading volume of 211,636 shares, the short-interest ratio is presently 1.8 days. Currently, 1.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

RMTI has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rockwell Medical in a report on Tuesday, April 21st. HC Wainwright cut their price objective on Rockwell Medical from $2.50 to $2.00 and set a “buy” rating for the company in a report on Monday, March 30th. Finally, Wall Street Zen raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.00.

Rockwell Medical Stock Performance

Shares of Rockwell Medical stock traded down $0.01 during trading on Thursday, reaching $0.79. The company’s stock had a trading volume of 103,091 shares, compared to its average volume of 549,550. Rockwell Medical has a one year low of $0.74 and a one year high of $2.10. The business’s fifty day moving average price is $0.91 and its 200-day moving average price is $0.96. The firm has a market cap of $31.34 million, a price-to-earnings ratio of -5.31 and a beta of 1.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.63 and a current ratio of 3.74.

Rockwell Medical (NASDAQ:RMTI) last announced its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). 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 the consensus estimate of $17.95 million. As a group, equities research analysts predict that Rockwell Medical will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On Rockwell Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Rockwell Medical by 12.3% during the third quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock worth $1,625,000 after acquiring an additional 148,737 shares during the period. Geode Capital Management LLC increased its stake in Rockwell Medical by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock valued at $304,000 after acquiring an additional 41,668 shares during the period. GSA Capital Partners LLP increased its stake in Rockwell Medical by 635.1% during the third quarter. GSA Capital Partners LLP now owns 163,978 shares of the company’s stock valued at $197,000 after acquiring an additional 141,672 shares during the period. Jane Street Group LLC bought a new position in Rockwell Medical during the fourth quarter valued at about $84,000. Finally, XTX Topco Ltd increased its stake in Rockwell Medical by 286.5% during the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after acquiring an additional 46,029 shares during the period. Institutional investors own 23.31% of the company’s stock.

Rockwell Medical Company Profile

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.