Short Interest in Rockwell Medical, Inc. (NASDAQ:RMTI) Expands By 72.2%

Key Points

• Short interest in Rockwell Medical, Inc. increased by 72.2% in August, reaching a total of 175,100 shares shorted, indicating heightened bearish sentiment.
• Rockwell Medical received a positive shift in analyst ratings, with Wall Street Zen upgrading the stock from a "sell" to a "hold" rating, and a consensus rating now categorized as "Buy."
• The company's recent earnings report showed that it met earnings per share estimates but fell short on revenue expectations, reporting $16.07 million against a consensus of $16.33 million.

Rockwell Medical, Inc. (NASDAQ:RMTI - Get Free Report) was the target of a large growth in short interest in August. As of August 15th, there was short interest totaling 175,100 shares, agrowthof72.2% from the July 31st total of 101,700 shares. Approximately0.6% of the company's stock are short sold. Based on an average daily volume of 470,000 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 470,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately0.6% of the company's stock are short sold.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RMTI. Raymond James Financial Inc. purchased a new position in shares of Rockwell Medical during the 4th quarter valued at approximately $28,000. Barclays PLC increased its position in shares of Rockwell Medical by 27.5% during the 4th quarter. Barclays PLC now owns 28,854 shares of the company's stock worth $59,000 after purchasing an additional 6,229 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Rockwell Medical during the 4th quarter valued at about $146,000. Finally, Panagora Asset Management Inc. purchased a new position in Rockwell Medical during the 2nd quarter valued at about $41,000. 23.31% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Medical Price Performance

NASDAQ RMTI traded down $0.06 during trading hours on Friday, reaching $1.62. The company's stock had a trading volume of 1,846,279 shares, compared to its average volume of 2,401,743. The firm's 50-day moving average price is $1.14 and its 200-day moving average price is $1.17. The company has a quick ratio of 2.51, a current ratio of 2.89 and a debt-to-equity ratio of 0.30. Rockwell Medical has a 1 year low of $0.78 and a 1 year high of $5.15. The company has a market capitalization of $55.78 million, a price-to-earnings ratio of -27.00 and a beta of 1.83.

Rockwell Medical (NASDAQ:RMTI - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $16.07 million for the quarter, compared to the consensus estimate of $16.33 million. Rockwell Medical had a negative return on equity of 6.79% and a negative net margin of 2.38%. Rockwell Medical has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Rockwell Medical will post 0.03 EPS for the current fiscal year.

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.

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