Short Interest in Rockwell Medical Inc (NASDAQ:RMTI) Drops By 9.9%

Rockwell Medical Inc (NASDAQ:RMTI) was the recipient of a significant decline in short interest in the month of November. As of November 29th, there was short interest totalling 5,910,000 shares, a decline of 9.9% from the November 14th total of 6,560,000 shares. Approximately 11.1% of the company’s shares are short sold. Based on an average daily trading volume, of 317,300 shares, the days-to-cover ratio is presently 18.6 days.

RMTI traded down $0.04 during trading on Friday, hitting $2.22. The company’s stock had a trading volume of 231,670 shares, compared to its average volume of 360,683. Rockwell Medical has a twelve month low of $1.81 and a twelve month high of $6.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.27 and a quick ratio of 2.98. The stock’s fifty day moving average price is $2.18 and its 200-day moving average price is $2.81.

Rockwell Medical (NASDAQ:RMTI) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. Rockwell Medical had a negative return on equity of 139.38% and a negative net margin of 57.77%. The firm had revenue of $15.41 million for the quarter, compared to analyst estimates of $15.40 million. On average, equities analysts anticipate that Rockwell Medical will post -0.57 EPS for the current year.

Several equities analysts have issued reports on RMTI shares. Piper Jaffray Companies dropped their price target on Rockwell Medical from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Rockwell Medical in a research note on Monday, December 2nd. Finally, Zacks Investment Research lowered Rockwell Medical from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.33.

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Rockwell Medical by 61.7% during the second quarter. Royal Bank of Canada now owns 12,125 shares of the company’s stock worth $37,000 after purchasing an additional 4,625 shares during the period. Provident Investment Management Inc. raised its position in shares of Rockwell Medical by 14.3% during the second quarter. Provident Investment Management Inc. now owns 40,000 shares of the company’s stock worth $120,000 after purchasing an additional 5,000 shares during the period. Jag Capital Management LLC raised its position in shares of Rockwell Medical by 19.4% during the third quarter. Jag Capital Management LLC now owns 30,750 shares of the company’s stock worth $85,000 after purchasing an additional 5,000 shares during the period. Gabelli Funds LLC raised its position in shares of Rockwell Medical by 31.0% during the third quarter. Gabelli Funds LLC now owns 21,121 shares of the company’s stock worth $58,000 after purchasing an additional 5,000 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Rockwell Medical during the first quarter worth approximately $57,000. 21.32% of the stock is currently owned by hedge funds and other institutional investors.

About Rockwell Medical

Rockwell Medical, Inc operates as a specialty pharmaceutical company that targets end-stage renal disease and chronic kidney disease with therapies and products for the treatment of iron deficiency and hemodialysis. The company offers Triferic, an iron therapy that replaces iron and maintains hemoglobin in dialysis patients without increasing iron stores; and Calcitriol, an active vitamin D injection for the management of hypocalcemia in patients undergoing chronic hemodialysis.

Featured Story: What is a conference call?

Receive News & Ratings for Rockwell Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Medical and related companies with MarketBeat.com's FREE daily email newsletter.