Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Down 60.9% in April

Rockwell Medical, Inc. (NASDAQ:RMTI) saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 387,448 shares, a decrease of 60.9% from the April 15th total of 990,637 shares. Based on an average trading volume of 211,636 shares, the short-interest ratio is presently 1.8 days. Approximately 1.0% of the shares of the stock are sold short.

Rockwell Medical Stock Down 0.9%

Shares of RMTI traded down $0.01 during mid-day trading on Thursday, reaching $0.79. The company’s stock had a trading volume of 103,091 shares, compared to its average volume of 549,550. The business has a fifty day moving average of $0.91 and a 200 day moving average of $0.96. The company has a market cap of $31.34 million, a price-to-earnings ratio of -5.31 and a beta of 1.65. 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.

Rockwell Medical (NASDAQ:RMTI) last released its 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 net margin of 7.98% and a negative return on equity of 15.41%. As a group, analysts forecast that Rockwell Medical will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HC Wainwright cut their price objective on Rockwell Medical from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rockwell Medical in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded Rockwell Medical from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.00.

Institutional Trading of Rockwell Medical

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Rockwell Medical by 12.3% in 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Rockwell Medical by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 364,816 shares of the company’s stock worth $304,000 after purchasing an additional 41,668 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Rockwell Medical by 635.1% in the third 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 in the last quarter. Jane Street Group LLC purchased a new stake in shares of Rockwell Medical in the fourth quarter worth approximately $84,000. Finally, XTX Topco Ltd raised its holdings 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 worth $52,000 after acquiring an additional 46,029 shares in the last quarter. 23.31% of the stock is owned by hedge funds and other institutional investors.

About Rockwell Medical

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.