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

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 90,591 shares, a decrease 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 currently 0.0 days. Approximately 2.5% of the company’s shares are short sold.

Nuwellis Trading Down 8.6%

NUWE traded down $0.09 on Tuesday, hitting $0.96. The company had a trading volume of 666,737 shares, compared to its average volume of 9,058,027. The firm has a market cap of $3.50 million, a P/E ratio of -0.01 and a beta of 0.31. Nuwellis has a 1 year low of $0.94 and a 1 year high of $185.15. The company’s fifty day moving average price is $2.54 and its 200 day moving average price is $27.55.

Nuwellis (NASDAQ:NUWE) last announced its earnings results on Thursday, August 13th. The company reported ($26.64) earnings per share for the quarter, missing the consensus estimate of ($23.80) by ($2.84). Nuwellis had a negative return on equity of 623.14% and a negative net margin of 123.38%.The company had revenue of $1.97 million for the quarter, compared to analysts’ expectations of $2.42 million.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen raised shares of Nuwellis to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Nuwellis currently has an average rating of “Sell”.

Institutional Trading of Nuwellis

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC grew its position in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the period. Nuwellis makes up about 0.2% of Sabby Management LLC’s holdings, making the stock its 18th largest holding. Sabby Management LLC owned about 4.80% of Nuwellis worth $156,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 3.13% of the company’s stock.

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.