Nuwellis, Inc. (NASDAQ:NUWE) Sees Large Growth in Short Interest

Nuwellis, Inc. (NASDAQ:NUWE) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 955,180 shares, a growth of 736.6% from the July 15th total of 114,178 shares. Currently, 52.1% of the shares of the stock are short sold. Based on an average daily volume of 11,160,715 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

NUWE has been the subject of several recent research reports. Wall Street Zen raised Nuwellis to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nuwellis currently has a consensus rating of “Sell”.

Nuwellis Stock Up 4.2%

Nuwellis stock traded up $0.06 during mid-day trading on Tuesday, hitting $1.48. 544,924 shares of the stock were exchanged, compared to its average volume of 8,921,194. Nuwellis has a 12 month low of $1.34 and a 12 month high of $235.20. The firm’s fifty day simple moving average is $3.75 and its two-hundred day simple moving average is $35.57. The stock has a market capitalization of $2.75 million, a price-to-earnings ratio of -0.00 and a beta of 0.31.

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

Institutional Trading of Nuwellis

An institutional investor recently raised its stake in Nuwellis stock. Sabby Management LLC lifted its holdings in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 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 quarter. 3.13% of the stock is owned by hedge funds and other institutional investors.

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.