Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Drops By 60.9%
by Amy Steele · The Cerbat GemRockwell Medical, Inc. (NASDAQ:RMTI – Get Free Report) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 387,448 shares, a drop of 60.9% from the April 15th total of 990,637 shares. Based on an average daily volume of 211,636 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.0% of the shares of the company are sold short.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Rockwell Medical by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock valued at $304,000 after purchasing an additional 41,668 shares in the last quarter. XTX Topco Ltd grew its position in shares of Rockwell Medical by 286.5% during the fourth quarter. XTX Topco Ltd now owns 62,097 shares of the company’s stock valued at $52,000 after purchasing an additional 46,029 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Rockwell Medical during the fourth quarter valued at about $84,000. GSA Capital Partners LLP grew its position in shares of Rockwell Medical by 635.1% during the third 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 in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Rockwell Medical by 12.3% during the third quarter. Vanguard Group Inc. now owns 1,354,147 shares of the company’s stock valued at $1,625,000 after purchasing an additional 148,737 shares in the last quarter. Hedge funds and other institutional investors own 23.31% of the company’s stock.
Rockwell Medical Price Performance
RMTI stock traded down $0.00 during trading on Friday, reaching $0.79. The company’s stock had a trading volume of 379,090 shares, compared to its average volume of 256,376. Rockwell Medical has a 1 year low of $0.74 and a 1 year high of $2.10. The company has a quick ratio of 3.63, a current ratio of 3.74 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $31.26 million, a P/E ratio of -5.28 and a beta of 1.65. The company’s fifty day moving average is $0.91 and its 200-day moving average is $0.95.
Rockwell Medical (NASDAQ:RMTI – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The business had revenue of $17.34 million during the quarter, compared to analysts’ expectations of $17.95 million. Rockwell Medical had a negative return on equity of 15.41% and a negative net margin of 7.98%. On average, research analysts expect that Rockwell Medical will post -0.08 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on RMTI shares. Wall Street Zen raised Rockwell Medical from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. HC Wainwright decreased their target price on Rockwell Medical from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rockwell Medical in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Rockwell Medical has an average rating of “Hold” and an average price target of $2.00.
View Our Latest Stock 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.