Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Grows By 130.9%

Nuwellis, Inc. (NASDAQ:NUWE) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 101,600 shares, a growth of 130.9% from the September 15th total of 44,000 shares. Based on an average daily volume of 314,800 shares, the short-interest ratio is presently 0.3 days. Currently, 1.1% of the shares of the company are sold short.

Shares of NUWE traded down $0.02 during mid-day trading on Thursday, hitting $2.09. 2,100 shares of the company’s stock traded hands, compared to its average volume of 340,154. Nuwellis has a 1 year low of $1.95 and a 1 year high of $12.38. The stock has a market cap of $20.93 million, a price-to-earnings ratio of -0.41 and a beta of 1.11. The business has a 50-day simple moving average of $3.42.

Nuwellis (NASDAQ:NUWE) last announced its quarterly earnings results on Tuesday, August 10th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.17. Nuwellis had a negative return on equity of 74.40% and a negative net margin of 206.57%. The firm had revenue of $2.51 million for the quarter. As a group, equities research analysts expect that Nuwellis will post -3.09 earnings per share for the current fiscal year.

Several brokerages recently issued reports on NUWE. Zacks Investment Research cut Nuwellis from a “buy” rating to a “hold” rating in a research note on Wednesday. Lake Street Capital started coverage on shares of Nuwellis in a research note on Tuesday, September 7th. They set a “buy” rating and a $9.00 price target for the company.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in Nuwellis during the 2nd quarter worth about $943,000. Bard Associates Inc. acquired a new position in shares of Nuwellis during the 2nd quarter worth about $730,000. Kepos Capital LP acquired a new stake in shares of Nuwellis during the 2nd quarter worth approximately $352,000. Renaissance Technologies LLC acquired a new position in shares of Nuwellis in the 2nd quarter valued at $231,000. Finally, Geode Capital Management LLC acquired a new position in shares of Nuwellis in the 2nd quarter valued at $156,000. 10.10% of the stock is currently owned by hedge funds and other institutional investors.

About Nuwellis

Nuwellis, Inc operates as a medical device company. It engages in the provision of products for the treatment of fluid overload. The firm’s products include Aquadex FlexFlow System, which provides an ultrafiltration for the removal of salt and water in patients with hypervolemia, or fluid overload. It operates through Cardiac and Coronary Disease Products segment.

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