Nuwellis (NASDAQ:NUWE) Stock Price Down 34.2% – What’s Next?

Nuwellis, Inc. (NASDAQ:NUWE) shares traded down 34.2% during mid-day trading on Friday . The company traded as low as $0.40 and last traded at $0.40. 2,012,551 shares changed hands during trading, an increase of 105% from the average session volume of 983,187 shares. The stock had previously closed at $0.61.

Wall Street Analysts Forecast Growth

Separately, Roth Capital reiterated a “buy” rating on shares of Nuwellis in a research note on Tuesday, May 13th.

Nuwellis Stock Performance

The company has a market cap of $1.76 million, a P/E ratio of 0.00 and a beta of 0.48. The business’s fifty day moving average is $0.90 and its two-hundred day moving average is $1.09.

Nuwellis (NASDAQ:NUWE) last issued its earnings results on Tuesday, May 13th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.24). Nuwellis had a negative return on equity of 28,159.25% and a negative net margin of 169.54%. The company had revenue of $1.90 million for the quarter, compared to analysts’ expectations of $2.50 million. Analysts expect that Nuwellis, Inc. will post -8.17 EPS for the current fiscal year.

Institutional Trading of Nuwellis

An institutional investor recently bought a new position in Nuwellis stock. Geode Capital Management LLC bought a new stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 30,806 shares of the company’s stock, valued at approximately $34,000. Geode Capital Management LLC owned approximately 0.70% of Nuwellis at the end of the most recent quarter. Institutional investors and hedge funds own 3.13% of the company’s stock.

About Nuwellis

Nuwellis, Inc, a medical device company, develops, manufactures, and commercializes medical devices used in ultrafiltration therapy. The company offers Aquadex FlexFlow and Aquadex SmartFlow systems, which are used to treat patients suffering from fluid overload due to heart failure. Its Aquadex FlexFlow system includes a console, disposable blood circuit set, and disposable catheter.