Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Drops By 90.5%

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 90,591 shares, a decline of 90.5% from the July 30th total of 955,180 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily trading volume, of 4,147,237 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Nuwellis to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nuwellis has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC increased its stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the quarter. Nuwellis accounts for 0.2% of Sabby Management LLC’s holdings, making the stock its 18th largest holding. Sabby Management LLC owned about 4.80% of Nuwellis worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 3.13% of the stock is owned by institutional investors and hedge funds.

Nuwellis Stock Down 8.6%

Nuwellis stock traded down $0.09 during mid-day trading on Tuesday, reaching $0.96. 666,737 shares of the company’s stock were exchanged, compared to its average volume of 9,058,027. Nuwellis has a twelve month low of $0.94 and a twelve month high of $185.15. The company has a market cap of $3.50 million, a P/E ratio of -0.01 and a beta of 0.31. The company has a fifty day moving average of $2.54 and a 200-day moving average of $27.55.

Nuwellis (NASDAQ:NUWE) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($26.64) EPS for the quarter, missing the consensus estimate of ($23.80) by ($2.84). The business had revenue of $1.97 million during the quarter, compared to analyst estimates of $2.42 million. Nuwellis had a negative return on equity of 623.14% and a negative net margin of 123.38%.

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.