Nuwellis, Inc. (NASDAQ:NUWE) Sees Large Decrease in Short Interest

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 76,020 shares, a decrease of 50.6% from the June 15th total of 153,869 shares. Approximately 100.0% of the company’s stock are short sold. Based on an average daily trading volume, of 203,083 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Nuwellis

An institutional investor recently raised its stake in Nuwellis stock. Sabby Management LLC lifted its holdings in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to its most recent 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 comprises approximately 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th largest holding. Sabby Management LLC owned 4.80% of Nuwellis worth $156,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.13% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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, the company currently has a consensus rating of “Sell”.

Nuwellis Stock Performance

NASDAQ:NUWE traded down $0.18 on Thursday, hitting $2.94. The stock had a trading volume of 147,195 shares, compared to its average volume of 76,495. The stock has a market cap of $226,380.00, a P/E ratio of -0.00 and a beta of 0.29. Nuwellis has a 1 year low of $2.73 and a 1 year high of $577.50. The firm’s fifty day simple moving average is $15.46 and its two-hundred day simple moving average is $44.30.

Nuwellis (NASDAQ:NUWE) last announced its earnings results on Tuesday, May 12th. The company reported ($73.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($35.00) by ($38.15). The business had revenue of $2.40 million during 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%.

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.