Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Declines By 19.4%

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 596,800 shares, a decline of 19.4% from the June 30th total of 740,100 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily volume of 166,100 shares, the days-to-cover ratio is currently 3.6 days.

Hedge Funds Weigh In On Rockwell Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. WealthTrust Axiom LLC increased its stake in Rockwell Medical by 49.3% in the fourth quarter. WealthTrust Axiom LLC now owns 31,500 shares of the company’s stock valued at $60,000 after acquiring an additional 10,400 shares during the last quarter. Raymond James & Associates increased its stake in shares of Rockwell Medical by 15.9% in the 4th quarter. Raymond James & Associates now owns 220,979 shares of the company’s stock valued at $418,000 after purchasing an additional 30,309 shares during the last quarter. Perkins Capital Management Inc. raised its holdings in shares of Rockwell Medical by 366.3% during the 4th quarter. Perkins Capital Management Inc. now owns 349,934 shares of the company’s stock worth $661,000 after buying an additional 274,891 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Rockwell Medical by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock worth $1,856,000 after buying an additional 43,302 shares during the last quarter. Finally, SkyOak Wealth LLC lifted its position in shares of Rockwell Medical by 47.3% during the 1st quarter. SkyOak Wealth LLC now owns 25,110 shares of the company’s stock worth $42,000 after buying an additional 8,065 shares during the last quarter. 23.31% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Medical Price Performance

Shares of RMTI stock traded down $0.02 during trading on Tuesday, hitting $1.82. The company had a trading volume of 90,997 shares, compared to its average volume of 191,414. The stock’s 50-day moving average price is $1.85 and its 200 day moving average price is $1.62. Rockwell Medical has a one year low of $1.16 and a one year high of $3.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.79. The firm has a market capitalization of $55.18 million, a P/E ratio of -5.11 and a beta of 1.43.

Rockwell Medical (NASDAQ:RMTI) last released its earnings results on Tuesday, May 14th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $22.68 million during the quarter, compared to the consensus estimate of $21.18 million. Rockwell Medical had a negative return on equity of 28.29% and a negative net margin of 9.72%. During the same period in the prior year, the company posted ($0.10) EPS. Equities analysts expect that Rockwell Medical will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RMTI shares. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Rockwell Medical in a research report on Thursday, May 16th. StockNews.com raised shares of Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th.

Rockwell Medical Company Profile

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.