Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Down 58.4% in June

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 153,869 shares, a decline of 58.4% from the May 31st total of 369,455 shares. Approximately 5.8% of the shares of the stock are sold short. Based on an average trading volume of 7,466,231 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Nuwellis

A hedge fund recently raised its position in Nuwellis stock. Sabby Management LLC grew its position in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,685 shares of the company’s stock after buying an additional 53,791 shares during the period. Nuwellis accounts for approximately 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th largest position. 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.

Nuwellis Trading Down 4.1%

NASDAQ:NUWE traded down $0.13 during trading hours on Tuesday, hitting $3.05. The company had a trading volume of 118,876 shares, compared to its average volume of 67,322. The company has a 50-day moving average of $24.33 and a 200 day moving average of $50.70. The company has a market cap of $234,850.00, a P/E ratio of -0.00 and a beta of 0.19. Nuwellis has a 1 year low of $2.88 and a 1 year high of $908.25.

Nuwellis (NASDAQ:NUWE) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($73.15) EPS for the quarter, missing the consensus estimate of ($35.00) by ($38.15). The company had revenue of $2.40 million for the quarter, compared to analysts’ expectations of $2.09 million. Nuwellis had a negative return on equity of 32,351.83% and a negative net margin of 214.90%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Nuwellis presently has a consensus rating of “Sell”.

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.