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

Nuwellis, Inc. (NASDAQ:NUWE) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 153,869 shares, a decline of 58.4% from the May 31st total of 369,455 shares. Currently, 5.8% of the shares of the company are sold short. Based on an average daily volume of 7,466,231 shares, the short-interest ratio is currently 0.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Nuwellis Price Performance

NASDAQ:NUWE traded down $0.12 during trading hours on Monday, reaching $3.18. The company had a trading volume of 315,227 shares, compared to its average volume of 66,880. Nuwellis has a 1-year low of $2.88 and a 1-year high of $908.25. The business’s 50 day moving average price is $25.10 and its 200-day moving average price is $51.33. The firm has a market cap of $254,400.00, a PE ratio of -0.00 and a beta of 0.19.

Nuwellis (NASDAQ:NUWE) last issued 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). The firm had revenue of $2.40 million for the quarter, compared to analyst estimates of $2.09 million. Nuwellis had a negative return on equity of 32,351.83% and a negative net margin of 214.90%.

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% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,685 shares of the company’s stock after buying an additional 53,791 shares during the period. Nuwellis comprises 0.2% of Sabby Management LLC’s investment 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. Hedge funds and other institutional investors own 3.13% of the company’s stock.

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.