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

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

Hedge Funds Weigh In On Rockwell Medical

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in Rockwell Medical by 877.1% in the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock valued at $181,000 after acquiring an additional 92,189 shares during the last quarter. Armistice Capital LLC grew its position in shares of Rockwell Medical by 22.5% during the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock valued at $5,670,000 after purchasing an additional 592,000 shares in the last quarter. Beacon Financial Advisory LLC bought a new stake in shares of Rockwell Medical in the third quarter worth about $98,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Rockwell Medical in the third quarter worth about $40,000. Finally, Verus Capital Partners LLC bought a new position in Rockwell Medical during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 23.31% of the company’s stock.

Rockwell Medical Price Performance

NASDAQ RMTI traded up $0.02 during trading hours on Friday, reaching $2.12. The company’s stock had a trading volume of 171,584 shares, compared to its average volume of 310,748. Rockwell Medical has a 1 year low of $1.16 and a 1 year high of $5.15. The company has a quick ratio of 2.00, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $68.52 million, a price-to-earnings ratio of -42.40 and a beta of 1.38. The firm’s 50-day moving average price is $2.29 and its 200-day moving average price is $2.73.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RMTI shares. RODMAN&RENSHAW upgraded 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 price objective for the company. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Rockwell Medical in a research report on Monday, December 23rd. Finally, StockNews.com downgraded shares of Rockwell Medical from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

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.