Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Down 93.1% in February

Nuwellis, Inc. (NASDAQ:NUWE) saw a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 25,457 shares, a drop of 93.1% from the January 29th total of 370,965 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 206,373 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 206,373 shares, the short-interest ratio is presently 0.1 days. Currently, 1.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

NUWE has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuwellis in a research note on Monday, December 29th. Wall Street Zen downgraded Nuwellis from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Nuwellis Trading Down 5.6%

NASDAQ NUWE traded down $0.09 during trading hours on Friday, reaching $1.51. 86,454 shares of the company’s stock were exchanged, compared to its average volume of 154,041. The firm has a fifty day moving average of $2.24 and a 200-day moving average of $3.08. Nuwellis has a one year low of $1.50 and a one year high of $56.28. The stock has a market cap of $2.82 million, a PE ratio of -0.01 and a beta of -0.11.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC boosted its stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,685 shares of the company’s stock after acquiring an additional 53,791 shares during the quarter. Nuwellis makes up approximately 0.2% of Sabby Management LLC’s holdings, making the stock its 18th biggest holding. Sabby Management LLC owned about 4.80% of Nuwellis worth $156,000 as of its most recent SEC filing. 3.13% of the stock is currently owned by institutional investors and hedge funds.

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.