Nuwellis, Inc. (NASDAQ:NUWE – Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 168,583 shares, an increase of 86.1% from the August 15th total of 90,591 shares. Based on an average daily trading volume, of 2,720,493 shares, the days-to-cover ratio is currently 0.1 days. Approximately 4.7% of the company’s stock are sold short.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Nuwellis stock. Sabby Management LLC boosted its holdings in Nuwellis, Inc. (NASDAQ:NUWE – Free Report) by 149.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the period. Nuwellis comprises about 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th largest 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.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a report on Wednesday, June 24th. Wall Street Zen raised shares of Nuwellis to a “hold” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.
Nuwellis Stock Performance
NASDAQ:NUWE opened at $0.84 on Wednesday. The stock has a 50-day simple moving average of $1.68 and a 200 day simple moving average of $20.02. Nuwellis has a 52-week low of $0.71 and a 52-week high of $172.90. The company has a market cap of $3.07 million, a PE ratio of -0.01 and a beta of 0.23.
Nuwellis (NASDAQ:NUWE – Get Free Report) last released 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 net margin of 123.38% and a negative return on equity of 623.14%. The firm had revenue of $1.97 million during the quarter, compared to the consensus estimate of $2.42 million.
Nuwellis Company Profile
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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