Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Drops By 93.1%

Nuwellis, Inc. (NASDAQ:NUWE) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 25,457 shares, a decline of 93.1% from the January 29th total of 370,965 shares. Based on an average trading volume of 206,373 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.7% of the shares of the company are short sold. Approximately 1.7% of the shares of the company are short sold. Based on an average trading volume of 206,373 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Nuwellis from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuwellis in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Nuwellis Stock Performance

Shares of NUWE traded up $0.05 during mid-day trading on Thursday, hitting $1.71. 11,759 shares of the company were exchanged, compared to its average volume of 3,407,898. The stock has a market cap of $3.19 million, a price-to-earnings ratio of -0.02 and a beta of -0.11. Nuwellis has a 1-year low of $1.60 and a 1-year high of $56.28. The company has a 50 day moving average of $2.26 and a 200-day moving average of $3.11.

Institutional Trading of Nuwellis

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC raised its position in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the period. Nuwellis accounts for approximately 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th biggest holding. Sabby Management LLC owned approximately 4.80% of Nuwellis worth $156,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.