Nuwellis, Inc. (NASDAQ:NUWE) Sees Significant Drop in Short Interest

Nuwellis, Inc. (NASDAQ:NUWE) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 90,591 shares, a drop of 90.5% from the July 30th total of 955,180 shares. Based on an average daily trading volume, of 4,147,237 shares, the short-interest ratio is presently 0.0 days. Approximately 2.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuwellis in a research report on Wednesday, June 24th. Wall Street Zen upgraded 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 MarketBeat, the company has a consensus rating of “Sell”.

Nuwellis Stock Down 2.1%

NASDAQ NUWE traded down $0.02 during trading hours on Thursday, hitting $0.99. The company had a trading volume of 968,737 shares, compared to its average volume of 1,330,626. The firm has a market cap of $3.61 million, a P/E ratio of -0.01 and a beta of 0.31. Nuwellis has a fifty-two week low of $0.94 and a fifty-two week high of $183.75. The business has a fifty day simple moving average of $2.46 and a 200-day simple moving average of $26.94.

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 the consensus estimate of ($23.80) by ($2.84). The firm had revenue of $1.97 million for the quarter, compared to analyst estimates of $2.42 million. Nuwellis had a negative net margin of 123.38% and a negative return on equity of 623.14%.

Institutional Investors Weigh In On Nuwellis

An institutional investor recently raised its stake in Nuwellis stock. Sabby Management LLC increased its stake in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,685 shares of the company’s stock after acquiring an additional 53,791 shares during the period. Nuwellis makes up approximately 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th biggest position. Sabby Management LLC owned approximately 4.80% of Nuwellis worth $156,000 at the end of the most recent reporting period. 3.13% of the stock is currently owned by institutional investors and hedge funds.

About Nuwellis

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.