Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Down 90.5% in August

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 90,591 shares, a drop of 90.5% from the July 30th total of 955,180 shares. Based on an average trading volume of 4,147,237 shares, the days-to-cover ratio is presently 0.0 days. Approximately 2.5% of the company’s shares are sold short.

Institutional Trading of Nuwellis

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC boosted 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 institutional investor owned 89,685 shares of the company’s stock after buying an additional 53,791 shares during the quarter. Nuwellis makes up 0.2% of Sabby Management LLC’s holdings, making the stock its 18th biggest holding. Sabby Management LLC owned approximately 4.80% of Nuwellis worth $156,000 as of its most recent SEC filing. 3.13% of the stock is currently owned by institutional investors and hedge funds.

Nuwellis Stock Performance

Shares of NUWE stock traded up $0.09 during midday trading on Wednesday, hitting $1.04. 21,926,732 shares of the company were exchanged, compared to its average volume of 1,311,714. Nuwellis has a 52 week low of $0.94 and a 52 week high of $185.15. The firm has a market capitalization of $3.81 million, a P/E ratio of -0.01 and a beta of 0.31. The firm’s 50 day moving average price is $2.54 and its two-hundred day moving average price is $27.55.

Nuwellis (NASDAQ:NUWE) last posted its earnings results on Thursday, August 13th. The company reported ($26.64) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.97 million for the quarter, compared to analyst estimates of $2.42 million.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen upgraded Nuwellis to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings reaffirmed 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, the company presently has an average rating of “Sell”.

About Nuwellis

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.