Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Declines By 32.2%

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 106,200 shares, a decline of 32.2% from the August 15th total of 156,700 shares. Currently, 9.7% of the company’s stock are short sold. Based on an average trading volume of 424,900 shares, the days-to-cover ratio is currently 0.2 days.

Nuwellis Trading Up 1.5 %

Shares of NASDAQ:NUWE traded up $0.02 during mid-day trading on Monday, hitting $1.38. 126,421 shares of the company traded hands, compared to its average volume of 232,663. The stock has a market cap of $712,080.00, a P/E ratio of 0.00 and a beta of 0.42. Nuwellis has a 12-month low of $1.00 and a 12-month high of $58.80. The stock has a 50-day moving average price of $2.39 and a two-hundred day moving average price of $7.43.

Nuwellis (NASDAQ:NUWE) last announced its earnings results on Tuesday, August 13th. The company reported ($18.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($9.49) by ($9.36). The company had revenue of $2.19 million for the quarter, compared to analysts’ expectations of $1.90 million. Nuwellis had a negative net margin of 232.24% and a negative return on equity of 1,716.60%. As a group, analysts expect that Nuwellis will post -9.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NUWE has been the subject of several recent research reports. Roth Mkm restated a “buy” rating and set a $17.00 price objective on shares of Nuwellis in a report on Tuesday, August 13th. Roth Capital upgraded Nuwellis to a “strong-buy” rating in a report on Monday, July 29th.

About Nuwellis

Nuwellis, Inc, a medical device company, focuses on developing, manufacturing, and commercializing medical devices used in ultrafiltration therapy. The company's products are the Aquadex FlexFlow and Aquadex SmartFlow systems, which are indicated for the treatment of patients suffering from fluid overload who have failed diuretics.