Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Drops By 28.5%

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 617,500 shares, a decrease of 28.5% from the December 15th total of 863,900 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 708,000 shares, the days-to-cover ratio is presently 0.9 days.

Rockwell Medical Price Performance

NASDAQ RMTI traded up $0.02 during trading hours on Friday, reaching $2.12. 171,584 shares of the stock traded hands, compared to its average volume of 311,262. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 2.00. The stock has a 50 day simple moving average of $2.24 and a two-hundred day simple moving average of $2.74. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $5.15. The company has a market cap of $68.52 million, a price-to-earnings ratio of -42.40 and a beta of 1.38.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RMTI. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Rockwell Medical in a research report on Monday, December 23rd. StockNews.com lowered Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. RODMAN&RENSHAW upgraded Rockwell Medical to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Rodman & Renshaw began coverage on shares of Rockwell Medical in a research report on Thursday, November 14th. They issued a “buy” rating and a $5.00 price objective on the stock.

Institutional Trading of Rockwell Medical

Hedge funds have recently bought and sold shares of the company. Concurrent Investment Advisors LLC purchased a new position in shares of Rockwell Medical during the third quarter worth approximately $40,000. Verus Capital Partners LLC bought a new position in shares of Rockwell Medical during the 3rd quarter valued at $51,000. Barclays PLC bought a new position in shares of Rockwell Medical during the 3rd quarter valued at $90,000. Beacon Financial Advisory LLC purchased a new position in Rockwell Medical in the 3rd quarter worth $98,000. Finally, XTX Topco Ltd lifted its stake in Rockwell Medical by 45.7% in the third quarter. XTX Topco Ltd now owns 28,455 shares of the company’s stock worth $113,000 after purchasing an additional 8,922 shares during the last quarter. Institutional investors own 23.31% of the company’s stock.

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.