Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Down 50.6% in June

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 76,020 shares, a decline of 50.6% from the June 15th total of 153,869 shares. Based on an average daily trading volume, of 203,083 shares, the days-to-cover ratio is currently 0.4 days. Approximately 100.0% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Nuwellis

A hedge fund recently raised its position in Nuwellis stock. Sabby Management LLC raised its holdings in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the 4th quarter, according to its most recent disclosure 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 comprises approximately 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 at the end of the most recent quarter. 3.13% of the stock is owned by hedge funds and other institutional investors.

Nuwellis Stock Down 3.1%

Shares of NASDAQ:NUWE traded down $0.10 during midday trading on Wednesday, hitting $3.12. The stock had a trading volume of 388,512 shares, compared to its average volume of 75,865. The company has a market cap of $249,600.00, a P/E ratio of -0.00 and a beta of 0.29. Nuwellis has a 12 month low of $2.73 and a 12 month high of $908.25. The business’s 50-day simple moving average is $16.16 and its 200-day simple moving average is $44.81.

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

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.