Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Decreases By 49.6%

Nuwellis, Inc. (NASDAQ:NUWEGet Free Report) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totaling 35,355 shares, a decrease of 49.6% from the April 30th total of 70,218 shares. Based on an average daily volume of 50,737 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.3% of the shares of the stock are sold short.

Nuwellis Stock Performance

NUWE traded down $0.11 during midday trading on Tuesday, hitting $0.59. The stock had a trading volume of 280,719 shares, compared to its average volume of 114,248. The company has a market cap of $1.59 million, a P/E ratio of -0.01 and a beta of 0.19. Nuwellis has a 1 year low of $0.70 and a 1 year high of $39.04. The business has a fifty day moving average of $1.07 and a 200 day moving average of $1.76.

Nuwellis (NASDAQ:NUWEGet Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($2.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.09). Nuwellis had a negative return on equity of 32,351.83% and a negative net margin of 214.90%.The company had revenue of $2.40 million for the quarter, compared to the consensus estimate of $2.09 million.

Institutional Trading of Nuwellis

An institutional investor recently raised its position in Nuwellis stock. Sabby Management LLC lifted its holdings in Nuwellis, Inc. (NASDAQ:NUWEFree Report) by 149.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,685 shares of the company’s stock after buying an additional 53,791 shares during the quarter. Nuwellis makes up about 0.2% of Sabby Management LLC’s holdings, making the stock its 18th biggest holding. Sabby Management LLC owned 4.80% of Nuwellis worth $156,000 at the end of the most recent quarter. Institutional investors and hedge funds own 3.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nuwellis in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Read Our Latest Research Report on Nuwellis

About Nuwellis

(Get Free Report)

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.

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