Rockwell Medical, Inc. (NASDAQ:RMTI) Sees Large Increase in Short Interest

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,120,000 shares, an increase of 25.3% from the October 31st total of 893,900 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily volume of 797,600 shares, the short-interest ratio is currently 1.4 days.

Rockwell Medical Price Performance

Rockwell Medical stock traded up $0.07 during mid-day trading on Friday, hitting $2.29. 412,981 shares of the company were exchanged, compared to its average volume of 1,258,795. The company has a market capitalization of $74.01 million, a PE ratio of -45.80 and a beta of 1.50. The business has a fifty day moving average of $3.35 and a 200 day moving average of $2.67. Rockwell Medical has a 1-year low of $1.16 and a 1-year high of $5.15. The company has a quick ratio of 2.00, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. RODMAN&RENSHAW raised Rockwell Medical to a “strong-buy” rating in a research report on Thursday, November 14th. StockNews.com downgraded shares of Rockwell Medical from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. HC Wainwright decreased their target price on shares of Rockwell Medical from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, November 25th. Finally, Rodman & Renshaw began coverage on shares of Rockwell Medical in a research report on Thursday, November 14th. They issued a “buy” rating and a $5.00 price target for the company.

Institutional Investors Weigh In On Rockwell Medical

A number of hedge funds have recently made changes to their positions in RMTI. Armistice Capital LLC boosted its position in Rockwell Medical by 22.5% in the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after buying an additional 592,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Rockwell Medical by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after acquiring an additional 43,302 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Rockwell Medical in the 3rd quarter worth approximately $534,000. Walleye Capital LLC bought a new stake in Rockwell Medical during the 3rd quarter worth approximately $435,000. Finally, Renaissance Technologies LLC increased its holdings in Rockwell Medical by 877.1% during the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after purchasing an additional 92,189 shares in the last quarter. Institutional investors and hedge funds own 23.31% of the company’s stock.

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.