Rockwell Medical, Inc. (NASDAQ:RMTI) Short Interest Down 28.5% in December

Rockwell Medical, Inc. (NASDAQ:RMTI) was the target of a significant drop in short interest during 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. Based on an average daily volume of 708,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.2% of the shares of the stock are sold short.

Rockwell Medical Trading Up 1.0 %

NASDAQ:RMTI traded up $0.02 during mid-day trading on Friday, hitting $2.12. 171,584 shares of the stock traded hands, compared to its average volume of 310,748. The company has a quick ratio of 2.00, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. Rockwell Medical has a 52 week low of $1.16 and a 52 week high of $5.15. The stock 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 is $2.29 and its two-hundred day moving average is $2.73.

Institutional Trading of Rockwell Medical

Several institutional investors and hedge funds have recently made changes to their positions in RMTI. Armistice Capital LLC grew its holdings in shares of Rockwell Medical by 22.5% in the second quarter. Armistice Capital LLC now owns 3,221,640 shares of the company’s stock worth $5,670,000 after purchasing an additional 592,000 shares during the last quarter. Jane Street Group LLC bought a new position in Rockwell Medical in the 3rd quarter worth about $534,000. Walleye Capital LLC bought a new position in Rockwell Medical in the 3rd quarter worth about $435,000. Renaissance Technologies LLC raised its stake in shares of Rockwell Medical by 877.1% during the second 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 in the last quarter. Finally, State Street Corp raised its stake in shares of Rockwell Medical by 21.5% during the third quarter. State Street Corp now owns 95,004 shares of the company’s stock valued at $377,000 after acquiring an additional 16,800 shares in the last quarter. 23.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RMTI has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Rockwell Medical in a report on Monday, December 23rd. StockNews.com cut Rockwell Medical from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. RODMAN&RENSHAW raised Rockwell Medical to a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Rodman & Renshaw initiated coverage on Rockwell Medical in a research report on Thursday, November 14th. They set a “buy” rating and a $5.00 target price on the 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.