Nuwellis (NASDAQ:NUWE) Stock Price Up 3.8% – Should You Buy?

Nuwellis, Inc. (NASDAQ:NUWE)’s stock price shot up 3.8% on Wednesday . The stock traded as high as $1.12 and last traded at $1.09. 31,299 shares were traded during trading, a decline of 66% from the average session volume of 92,000 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nuwellis in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Nuwellis has an average rating of “Hold”.

Nuwellis Stock Performance

The company has a 50 day moving average of $1.90 and a two-hundred day moving average of $2.44. The stock has a market cap of $2.52 million, a PE ratio of -0.01 and a beta of 0.08.

Nuwellis (NASDAQ:NUWE) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($1.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.56) by $0.06. Nuwellis had a negative return on equity of 6,094.26% and a negative net margin of 211.86%.The company had revenue of $2.42 million during the quarter, compared to analysts’ expectations of $2.31 million. As a group, equities research analysts anticipate that Nuwellis, Inc. will post -8.17 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC increased its stake in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,685 shares of the company’s stock after acquiring an additional 53,791 shares during the quarter. Nuwellis makes up about 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th biggest holding. Sabby Management LLC owned 4.80% of Nuwellis worth $156,000 as of its most recent filing with the SEC. 3.13% of the stock is currently owned by hedge funds and other institutional investors.

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.