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

Rockwell Medical, Inc. (NASDAQ:RMTI) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 580,562 shares, a decrease of 32.0% from the December 31st total of 853,816 shares. Based on an average daily volume of 204,481 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.5% of the company’s shares are short sold. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 204,481 shares, the days-to-cover ratio is currently 2.8 days.

Rockwell Medical Stock Down 1.8%

NASDAQ:RMTI traded down $0.02 during trading hours on Friday, reaching $1.07. The company’s stock had a trading volume of 219,325 shares, compared to its average volume of 1,574,053. The stock has a 50 day moving average price of $0.95 and a two-hundred day moving average price of $1.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.50 and a current ratio of 3.91. Rockwell Medical has a 12 month low of $0.78 and a 12 month high of $2.12. The company has a market capitalization of $42.16 million, a P/E ratio of -6.69 and a beta of 1.70.

Institutional Investors Weigh In On Rockwell Medical

A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its position in shares of Rockwell Medical by 635.1% in the 3rd 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 during the last quarter. Vanguard Group Inc. increased its position in Rockwell Medical by 12.3% during the 3rd 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 period. Finally, Panagora Asset Management Inc. purchased 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RMTI. Wall Street Zen downgraded Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. HC Wainwright reiterated a “buy” rating and set a $2.50 target price on shares of Rockwell Medical in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rockwell Medical in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.50.

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.