Rockwell Medical, Inc. (NASDAQ:RMTI) Sees Large Growth in Short Interest

Key Points

• Rockwell Medical reported a significant 482.5% increase in short interest, rising from 175,100 shares to 1,020,000 shares by the end of August.
• The company's stock price rose 2.4% on the last trading day and is currently priced at $1.69, with a 1-year trading range from $0.78 to $5.15.
• Analysts have an average rating of "Buy" for Rockwell Medical, with a target price of $4.00 per share, following an upgrade from "sell" to "hold" by Wall Street Zen.

Rockwell Medical, Inc. (NASDAQ:RMTI - Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,020,000 shares, a growth of 482.5% from the August 15th total of 175,100 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is presently 0.9 days. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is presently 0.9 days. Approximately 3.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Rockwell Medical from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $4.00.

Rockwell Medical Stock Performance

Shares of Rockwell Medical stock traded up $0.04 during trading on Monday, hitting $1.66. 1,846,192 shares of the stock were exchanged, compared to its average volume of 596,137. The stock's fifty day moving average is $1.22 and its 200 day moving average is $1.16. The stock has a market cap of $57.15 million, a PE ratio of -27.67 and a beta of 1.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.51 and a current ratio of 2.89. Rockwell Medical has a 12 month low of $0.78 and a 12 month high of $5.15.

Rockwell Medical (NASDAQ:RMTI - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $16.07 million during the quarter, compared to analyst estimates of $16.33 million. Rockwell Medical had a negative net margin of 2.38% and a negative return on equity of 6.79%. Rockwell Medical has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Rockwell Medical will post 0.03 EPS for the current year.

Hedge Funds Weigh In On Rockwell Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in Rockwell Medical in the 4th quarter valued at about $28,000. Panagora Asset Management Inc. bought a new position in Rockwell Medical in the 2nd quarter valued at about $41,000. Barclays PLC grew its position in Rockwell Medical by 27.5% in the 4th quarter. Barclays PLC now owns 28,854 shares of the company's stock valued at $59,000 after buying an additional 6,229 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in Rockwell Medical in the 4th quarter valued at about $146,000. Institutional investors own 23.31% of the company's stock.

Rockwell Medical Company Profile

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.