Nuwellis (NASDAQ:NUWE) Shares Up 3.8% – Here’s What Happened

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

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a research 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 stock. According to data from MarketBeat.com, Nuwellis has an average rating of “Hold”.

Nuwellis Stock Performance

The company has a 50 day moving average of $1.90 and a 200 day moving average of $2.44. The stock has a market capitalization of $2.52 million, a price-to-earnings ratio of -0.01 and a beta of 0.08.

Nuwellis (NASDAQ:NUWE) last issued its earnings results on Tuesday, March 10th. The company reported ($1.50) EPS for the quarter, beating analysts’ consensus estimates of ($1.56) by $0.06. The business had revenue of $2.42 million during the quarter, compared to analysts’ expectations of $2.31 million. Nuwellis had a negative net margin of 211.86% and a negative return on equity of 6,094.26%. On average, equities analysts predict that Nuwellis, Inc. will post -8.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuwellis

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC boosted its position in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the period. Nuwellis makes up 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. 3.13% of the stock is currently owned by institutional investors and hedge funds.

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.