Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Update

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 153,869 shares, a decline of 58.4% from the May 31st total of 369,455 shares. Based on an average trading volume of 7,466,231 shares, the short-interest ratio is presently 0.0 days. Currently, 5.8% of the company’s shares are short sold.

Nuwellis Trading Up 0.8%

Shares of NASDAQ NUWE traded up $0.03 during midday trading on Wednesday, hitting $3.08. The company’s stock had a trading volume of 150,858 shares, compared to its average volume of 68,033. The business’s 50 day moving average is $23.56 and its two-hundred day moving average is $50.02. Nuwellis has a 12-month low of $2.88 and a 12-month high of $908.25. The firm has a market cap of $246,000.00, a P/E ratio of -0.00 and a beta of 0.18.

Nuwellis (NASDAQ:NUWE) last released its earnings results on Tuesday, May 12th. The company reported ($73.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($35.00) by ($38.15). The business had revenue of $2.40 million during the quarter, compared to analysts’ expectations of $2.09 million. Nuwellis had a negative return on equity of 32,351.83% and a negative net margin of 214.90%.

Institutional Trading of Nuwellis

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC boosted its stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,685 shares of the company’s stock after buying an additional 53,791 shares during the period. Nuwellis accounts for about 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th biggest holding. Sabby Management LLC owned approximately 4.80% of Nuwellis worth $156,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 3.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nuwellis in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

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.