Nuwellis, Inc. (NASDAQ:NUWE – Get Free Report) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 167,440 shares, an increase of 339.6% from the September 15th total of 38,092 shares. Based on an average trading volume of 5,679,036 shares, the short-interest ratio is presently 0.0 days. Approximately 4.7% of the company’s shares are short sold.
Institutional Trading of Nuwellis
An institutional investor recently raised its stake in Nuwellis stock. Sabby Management LLC raised its position in Nuwellis, Inc. (NASDAQ:NUWE – Free Report) by 149.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,685 shares of the company’s stock after acquiring an additional 53,791 shares during the quarter. Nuwellis accounts for about 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th largest holding. Sabby Management LLC owned approximately 4.80% of Nuwellis worth $156,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.13% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on NUWE shares. Wall Street Zen upgraded shares of Nuwellis to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a report on Monday, September 21st. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Nuwellis currently has a consensus rating of “Sell”.
Nuwellis Stock Performance
Shares of NUWE stock traded up $0.01 during trading hours on Friday, reaching $0.69. The company had a trading volume of 150,304 shares, compared to its average volume of 3,235,698. Nuwellis has a twelve month low of $0.67 and a twelve month high of $172.90. The company has a market capitalization of $2.51 million, a P/E ratio of -0.01 and a beta of 0.09. The stock’s fifty day simple moving average is $0.99 and its 200 day simple moving average is $14.51.
Nuwellis (NASDAQ:NUWE – Get Free Report) 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). The company had revenue of $1.97 million for the quarter, compared to analysts’ expectations of $2.42 million. Nuwellis had a negative net margin of 123.38% and a negative return on equity of 623.14%.
Nuwellis Company Profile
Nuwellis, Inc is a medical device company focused on treating patients with fluid overload associated with heart failure and other conditions. The company’s technology is designed to remove excess salt and fluid from the body through ultrafiltration, offering an alternative or complement to conventional diuretic therapy.
Nuwellis’ principal product is the Aquadex system, a compact ultrafiltration platform used in hospital and clinical settings. The system includes a console, blood circuit and specialized catheter components, and is intended to help healthcare professionals manage fluid overload in patients who may not respond adequately to diuretics.
The company was formerly known as CHF Solutions, Inc and adopted the Nuwellis name in 2020.
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