Rockwell Medical Inc (NASDAQ:RMTI) Short Interest Update

Rockwell Medical Inc (NASDAQ:RMTI) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 7,309,600 shares, an increase of 8.3% from the June 30th total of 6,746,900 shares. Currently, 16.0% of the company’s stock are short sold. Based on an average daily trading volume, of 455,600 shares, the short-interest ratio is currently 16.0 days.

Shares of RMTI traded down $0.08 during midday trading on Thursday, hitting $2.40. 338,800 shares of the company’s stock traded hands, compared to its average volume of 368,959. Rockwell Medical has a 1 year low of $2.19 and a 1 year high of $6.88. The firm’s fifty day moving average is $2.84 and its 200-day moving average is $4.20. The company has a current ratio of 2.56, a quick ratio of 2.30 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $155.09 million, a price-to-earnings ratio of -5.11 and a beta of 1.42.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Rockwell Medical had a negative net margin of 52.11% and a negative return on equity of 160.82%. The business had revenue of $14.85 million for the quarter, compared to analysts’ expectations of $16.42 million. On average, equities research analysts anticipate that Rockwell Medical will post -0.63 EPS for the current year.

RMTI has been the subject of several analyst reports. Piper Jaffray Companies initiated coverage on Rockwell Medical in a report on Monday, June 24th. They set an “overweight” rating and a $10.00 price objective for the company. Cantor Fitzgerald initiated coverage on Rockwell Medical in a report on Monday, June 24th. They set an “overweight” rating and a $11.00 price objective for the company. Ifs Securities lowered Rockwell Medical from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, June 19th. ValuEngine upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, HC Wainwright set a $12.00 price objective on Rockwell Medical and gave the company a “buy” rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $9.65.

In related news, major shareholder David S. Richmond bought 68,750 shares of the stock in a transaction on Friday, July 19th. The stock was bought at an average price of $2.89 per share, for a total transaction of $198,687.50. Following the completion of the acquisition, the insider now directly owns 179,039 shares in the company, valued at $517,422.71. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David S. Richmond bought 9,780 shares of the stock in a transaction on Monday, July 8th. The shares were bought at an average price of $3.05 per share, with a total value of $29,829.00. Following the acquisition, the insider now owns 179,039 shares of the company’s stock, valued at $546,068.95. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 264,789 shares of company stock valued at $779,198. 3.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMTI. Quantamental Technologies LLC increased its position in shares of Rockwell Medical by 194.3% in the 1st quarter. Quantamental Technologies LLC now owns 5,301 shares of the company’s stock valued at $30,000 after acquiring an additional 3,500 shares during the period. Greenleaf Trust acquired a new position in shares of Rockwell Medical in the 2nd quarter valued at $36,000. Gabelli Funds LLC acquired a new position in shares of Rockwell Medical in the 2nd quarter valued at $49,000. BNP Paribas Arbitrage SA increased its position in shares of Rockwell Medical by 5,456.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,891 shares of the company’s stock valued at $56,000 after acquiring an additional 9,713 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Rockwell Medical in the 1st quarter valued at $57,000. 20.15% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Medical Company Profile

Rockwell Medical, Inc operates as a specialty pharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.

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