Nuwellis, Inc. (NASDAQ:NUWE) Sees Significant Growth in Short Interest

Nuwellis, Inc. (NASDAQ:NUWE) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 168,583 shares, a growth of 86.1% from the August 15th total of 90,591 shares. Based on an average trading volume of 2,720,493 shares, the days-to-cover ratio is currently 0.1 days. Approximately 4.7% of the shares of the company are sold short.

Hedge Funds Weigh In On Nuwellis

An institutional investor recently raised its stake in Nuwellis stock. Sabby Management LLC raised its stake in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,685 shares of the company’s stock after buying an additional 53,791 shares during the quarter. Nuwellis comprises approximately 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th biggest 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.

Analysts Set New Price Targets

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

Nuwellis Trading Up 33.7%

Shares of NUWE traded up $0.28 during trading hours on Thursday, hitting $1.09. 58,770,397 shares of the stock traded hands, compared to its average volume of 1,584,136. The business has a fifty day moving average of $1.64 and a 200-day moving average of $19.63. The firm has a market capitalization of $3.98 million, a PE ratio of -0.01 and a beta of 0.23. Nuwellis has a 1-year low of $0.71 and a 1-year high of $172.90.

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

About Nuwellis

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.