Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Rises By 736.6%

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 955,180 shares, a growth of 736.6% from the July 15th total of 114,178 shares. Approximately 52.1% of the company’s shares are short sold. Based on an average daily volume of 11,160,715 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

NUWE has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuwellis in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Nuwellis to a “hold” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Nuwellis

A hedge fund recently raised its position in Nuwellis stock. Sabby Management LLC lifted its holdings in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,685 shares of the company’s stock after acquiring an additional 53,791 shares during the quarter. Nuwellis makes up 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th biggest position. Sabby Management LLC owned 4.80% of Nuwellis worth $156,000 as of its most recent SEC filing. Institutional investors own 3.13% of the company’s stock.

Nuwellis Stock Down 9.2%

Shares of Nuwellis stock traded down $0.13 during trading on Thursday, reaching $1.28. 410,307 shares of the stock were exchanged, compared to its average volume of 1,229,093. The stock’s fifty day moving average is $3.44 and its 200 day moving average is $35.06. The firm has a market cap of $2.38 million, a price-to-earnings ratio of -0.00 and a beta of 0.31. Nuwellis has a 1 year low of $1.29 and a 1 year high of $235.20.

Nuwellis (NASDAQ:NUWE) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($26.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($23.80) by ($2.84). Nuwellis had a negative net margin of 214.90% and a negative return on equity of 32,351.83%.

Nuwellis Company Profile

Nuwellis (NASDAQ:NUWE) is a medical technology company focused on developing therapies and devices to manage fluid overload in patients with cardiorenal and cardiovascular conditions. The company’s core business revolves around designing, manufacturing and marketing the Aquadex™ FlexFlow® System, a gentle ultrafiltration device intended to remove excess fluid in patients with acute decompensated heart failure, cardiorenal syndrome and other fluid‐overload disorders. By providing an alternative to traditional diuretic therapy, Nuwellis aims to improve patient outcomes and reduce hospital stays.

The Aquadex FlexFlow System operates by drawing blood through a low‐shear filter and returning it to the patient, allowing precise control of fluid removal at the bedside outside of an intensive care setting.