Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Declines By 19.0%
by Renee Jackson · The Cerbat GemRockwell Medical, Inc. (NASDAQ:RMTI – Get Free Report) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totaling 743,232 shares, a decline of 19.0% from the March 15th total of 917,373 shares. Based on an average trading volume of 340,317 shares, the days-to-cover ratio is presently 2.2 days. Approximately 2.0% of the shares of the stock are short sold.
Institutional Trading of Rockwell Medical
Several institutional investors and hedge funds have recently modified their holdings of RMTI. Vanguard Group Inc. increased its holdings in Rockwell Medical by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock worth $1,625,000 after purchasing an additional 148,737 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Rockwell Medical by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock worth $304,000 after acquiring an additional 41,668 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Rockwell Medical by 635.1% in the third quarter. GSA Capital Partners LLP now owns 163,978 shares of the company’s stock worth $197,000 after acquiring an additional 141,672 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Rockwell Medical in the fourth quarter valued at approximately $84,000. Finally, XTX Topco Ltd lifted its holdings in Rockwell Medical by 286.5% during the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock worth $52,000 after acquiring an additional 46,029 shares during the period. 23.31% of the stock is currently owned by institutional investors.
Rockwell Medical Trading Down 0.1%
RMTI traded down $0.00 during midday trading on Thursday, reaching $0.92. 144,112 shares of the company were exchanged, compared to its average volume of 631,727. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.63 and a current ratio of 3.98. Rockwell Medical has a one year low of $0.78 and a one year high of $2.10. The stock has a market capitalization of $36.10 million, a P/E ratio of -6.11 and a beta of 1.70. The stock’s 50-day simple moving average is $0.96 and its 200 day simple moving average is $1.00.
Rockwell Medical (NASDAQ:RMTI – Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05). Rockwell Medical had a negative net margin of 7.67% and a negative return on equity of 15.64%. The business had revenue of $18.35 million for the quarter, compared to the consensus estimate of $18.58 million. As a group, analysts forecast that Rockwell Medical will post 0.03 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on RMTI shares. HC Wainwright lowered their target price on Rockwell Medical from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rockwell Medical in a report on Thursday, January 22nd. Finally, Wall Street Zen raised 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.00.
Check Out Our Latest Research Report on Rockwell Medical
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.