Rockwell Medical, Inc. (NASDAQ:RMTI) Sees Significant Decrease in Short Interest

by · The Cerbat Gem

Rockwell Medical, Inc. (NASDAQ:RMTI – Get Free Report) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 580,562 shares, a decrease of 32.0% from the December 31st total of 853,816 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 204,481 shares, the days-to-cover ratio is currently 2.8 days. Based on an average daily volume of 204,481 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.5% of the shares of the stock are short sold.

Rockwell Medical Trading Down 1.8%

Shares of NASDAQ RMTI traded down $0.02 during trading hours on Friday, hitting $1.07. 219,325 shares of the company traded hands, compared to its average volume of 1,571,188. The company’s 50 day moving average price is $0.95 and its 200 day moving average price is $1.11. Rockwell Medical has a 12 month low of $0.78 and a 12 month high of $2.12. The stock has a market capitalization of $42.16 million, a price-to-earnings ratio of -6.69 and a beta of 1.65. The company has a current ratio of 3.91, a quick ratio of 3.50 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On Rockwell Medical

Several institutional investors have recently made changes to their positions in RMTI. Panagora Asset Management Inc. bought a new stake in shares of Rockwell Medical in the 2nd quarter worth about $41,000. GSA Capital Partners LLP grew its holdings in Rockwell Medical by 635.1% during the 3rd quarter. GSA Capital Partners LLP now owns 163,978 shares of the company’s stock valued at $197,000 after purchasing an additional 141,672 shares during the last quarter. Finally, Vanguard Group Inc. raised its position 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 during the period. Institutional investors own 23.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Rockwell Medical from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Rockwell Medical in a report on Thursday, January 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $2.50 price objective on shares of Rockwell Medical in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.50.

Check Out Our Latest Analysis on RMTI

Rockwell Medical Company Profile

(Get Free Report)

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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