Nuwellis, Inc. (NASDAQ:NUWE) Stock Short Interest Drops 77.4%

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 38,092 shares, a decline of 77.4% from the August 31st total of 168,583 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average trading volume of 259,674 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

NUWE has been the subject of a number of 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 report on Monday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Trading of Nuwellis

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC lifted its holdings in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the quarter. Nuwellis accounts for 0.2% of Sabby Management LLC’s holdings, making the stock its 18th largest position. Sabby Management LLC owned 4.80% of Nuwellis worth $156,000 as of its most recent SEC filing. 3.13% of the stock is owned by institutional investors and hedge funds.

Nuwellis Stock Down 3.9%

Shares of NUWE stock traded down $0.03 on Friday, reaching $0.78. The stock had a trading volume of 147,346 shares, compared to its average volume of 3,355,834. Nuwellis has a 12 month low of $0.71 and a 12 month high of $172.90. The firm has a market capitalization of $2.83 million, a price-to-earnings ratio of -0.01 and a beta of 0.23. The firm’s 50-day moving average is $1.35 and its two-hundred day moving average is $17.35.

Nuwellis (NASDAQ:NUWE) last announced its earnings results on Thursday, August 13th. The company reported ($26.64) EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.97 million for the quarter, compared to the consensus estimate of $2.42 million.

About Nuwellis

Nuwellis, Inc (NASDAQ: NUWE) is a medical device company focused on therapies for managing fluid overload. The company develops and commercializes solutions intended to remove excess salt and water from the blood of patients who do not respond adequately to diuretics, particularly individuals with heart failure and related conditions.

Nuwellis’ principal product is the Aquadex system, a specialized ultrafiltration platform that includes a console and disposable blood circuit. The system is designed for use in hospital and other clinical settings to provide controlled fluid removal under the supervision of healthcare professionals.

The company was formerly known as CHF Solutions, Inc and adopted the Nuwellis name in 2020.