Rockwell Medical, Inc. (NASDAQ:RMTI – Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 823,400 shares, a growth of 56.2% from the September 30th total of 527,000 shares. Based on an average trading volume of 507,300 shares, the short-interest ratio is currently 1.6 days. Currently, 3.0% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Rockwell Medical in a research report on Wednesday, September 11th.
Get Our Latest Research Report on RMTI
Rockwell Medical Price Performance
Rockwell Medical (NASDAQ:RMTI – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $25.83 million during the quarter, compared to analysts’ expectations of $23.01 million. Rockwell Medical had a negative net margin of 5.06% and a negative return on equity of 6.96%. During the same quarter in the previous year, the company earned ($0.18) EPS. As a group, research analysts forecast that Rockwell Medical will post -0.03 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in RMTI. Renaissance Technologies LLC boosted its holdings in shares of Rockwell Medical by 877.1% in the 2nd quarter. Renaissance Technologies LLC now owns 102,700 shares of the company’s stock worth $181,000 after purchasing an additional 92,189 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Rockwell Medical by 4.0% during the first quarter. Vanguard Group Inc. now owns 1,118,277 shares of the company’s stock valued at $1,856,000 after buying an additional 43,302 shares during the last quarter. Finally, Armistice Capital LLC increased 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 buying an additional 592,000 shares during the period. Institutional investors own 23.31% of the company’s stock.
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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