Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Update

Rockwell Medical, Inc. (NASDAQ:RMTI) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,120,000 shares, an increase of 25.3% from the October 31st total of 893,900 shares. Based on an average daily volume of 797,600 shares, the short-interest ratio is presently 1.4 days. Currently, 4.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Rockwell Medical

A number of large investors have recently added to or reduced their stakes in RMTI. Armistice Capital LLC raised its position in Rockwell Medical by 22.5% during the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after acquiring an additional 592,000 shares during the period. Jane Street Group LLC acquired a new stake in shares of Rockwell Medical in the third quarter valued at about $534,000. Walleye Capital LLC acquired a new stake in shares of Rockwell Medical in the third quarter valued at about $435,000. Renaissance Technologies LLC raised its position in shares of Rockwell Medical by 877.1% in the second quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after buying an additional 92,189 shares during the last quarter. Finally, Corsair Capital Management L.P. acquired a new stake in shares of Rockwell Medical in the third quarter valued at about $298,000. 23.31% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Medical Stock Performance

NASDAQ:RMTI opened at $2.29 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.00 and a current ratio of 2.41. The company has a fifty day moving average of $3.35 and a two-hundred day moving average of $2.67. The stock has a market capitalization of $74.01 million, a PE ratio of -45.80 and a beta of 1.50. Rockwell Medical has a fifty-two week low of $1.16 and a fifty-two week high of $5.15.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RMTI. StockNews.com cut shares of Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. RODMAN&RENSHAW upgraded shares of Rockwell Medical to a “strong-buy” rating in a research note on Thursday, November 14th. Rodman & Renshaw began coverage on shares of Rockwell Medical in a research note on Thursday, November 14th. They issued a “buy” rating and a $5.00 target price for the company. Finally, HC Wainwright reduced their price objective on shares of Rockwell Medical from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, November 25th.

About Rockwell Medical

Rockwell Medical, Inc, together with its subsidiaries, operates as a healthcare company that engages in the development, manufacture, commercialization, and distribution of various hemodialysis products for dialysis providers worldwide. The company offers Triferic Dialysate and Triferic AVNU which are indicated to maintain hemoglobin in adult undergoing hemodialysis.