Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Update

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 38,092 shares, a decline of 77.4% from the August 31st total of 168,583 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 259,674 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Nuwellis in a research note on Monday. Wall Street Zen upgraded Nuwellis to a “hold” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nuwellis has a consensus rating of “Sell”.

Nuwellis Trading Down 3.9%

NUWE stock traded down $0.03 during mid-day trading on Friday, hitting $0.78. The stock had a trading volume of 147,346 shares, compared to its average volume of 3,355,834. Nuwellis has a 52 week low of $0.71 and a 52 week high of $172.90. The firm has a market capitalization of $2.83 million, a P/E ratio of -0.01 and a beta of 0.23. The firm has a fifty day simple moving average of $1.35 and a 200 day simple moving average of $17.35.

Nuwellis (NASDAQ:NUWE) last issued 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 firm had revenue of $1.97 million during the quarter, compared to analyst estimates of $2.42 million. Nuwellis had a negative net margin of 123.38% and a negative return on equity of 623.14%.

Institutional Investors Weigh In On Nuwellis

An institutional investor recently raised its position in Nuwellis stock. Sabby Management LLC raised its holdings in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the quarter. Nuwellis accounts for approximately 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th biggest position. Sabby Management LLC owned about 4.80% of Nuwellis worth $156,000 at the end of the most recent quarter. Institutional investors own 3.13% of the company’s stock.

Nuwellis Company Profile

Nuwellis, Inc (NASDAQ: NUWE) is a medical device company focused on therapies for managing fluid overload. The company develops and commercializes solutions intended to remove excess salt and water from the blood of patients who do not respond adequately to diuretics, particularly individuals with heart failure and related conditions.

Nuwellis’ principal product is the Aquadex system, a specialized ultrafiltration platform that includes a console and disposable blood circuit. The system is designed for use in hospital and other clinical settings to provide controlled fluid removal under the supervision of healthcare professionals.

The company was formerly known as CHF Solutions, Inc and adopted the Nuwellis name in 2020.