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

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a large drop in short interest in December. As of December 15th, there was short interest totaling 592,459 shares, a drop of 33.3% from the November 30th total of 888,853 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 206,394 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily volume of 206,394 shares, the days-to-cover ratio is presently 2.9 days. Currently, 1.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RMTI. Wall Street Zen cut shares of Rockwell Medical from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. HC Wainwright reduced their price target on shares of Rockwell Medical from $3.00 to $2.50 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rockwell Medical in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.50.

Hedge Funds Weigh In On Rockwell Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 worth $1,625,000 after purchasing an additional 148,737 shares during the last quarter. GSA Capital Partners LLP raised 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 worth $197,000 after purchasing an additional 141,672 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Rockwell Medical in the 2nd quarter valued at about $41,000. 23.31% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Medical Stock Down 5.0%

Rockwell Medical stock traded down $0.04 during trading hours on Monday, hitting $0.82. The company had a trading volume of 212,337 shares, compared to its average volume of 580,777. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.91 and a quick ratio of 3.50. The firm has a market capitalization of $32.35 million, a P/E ratio of -5.13 and a beta of 1.62. Rockwell Medical has a fifty-two week low of $0.78 and a fifty-two week high of $2.41. The firm’s fifty day moving average is $0.97 and its 200-day moving average is $1.10.

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.