Nuwellis (NASDAQ:NUWE) Stock Price Up 6.4% – Here’s What Happened

Nuwellis, Inc. (NASDAQ:NUWE)’s stock price traded up 6.4% during mid-day trading on Wednesday . The company traded as high as $2.86 and last traded at $2.84. 60,836 shares traded hands during trading, an increase of 25% from the average session volume of 48,499 shares. The stock had previously closed at $2.67.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NUWE. Weiss Ratings restated a “sell (e+)” rating on shares of Nuwellis in a report on Monday. Wall Street Zen cut Nuwellis from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Nuwellis has a consensus rating of “Hold”.

Nuwellis Stock Up 6.4%

The company’s 50-day simple moving average is $2.90 and its 200 day simple moving average is $7.80. The company has a market capitalization of $4.71 million, a P/E ratio of -0.03 and a beta of -0.17.

Nuwellis (NASDAQ:NUWE) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of ($17.22) by $17.78. The business had revenue of $2.22 million for the quarter, compared to the consensus estimate of $2.50 million. Nuwellis had a negative net margin of 202.83% and a negative return on equity of 1,367.63%. As a group, equities research analysts forecast that Nuwellis, Inc. will post -8.17 earnings per share for the current year.

Institutional Trading of Nuwellis

A hedge fund recently bought a new stake in Nuwellis stock. Virtu Financial LLC acquired a new stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,080 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned about 0.62% of Nuwellis as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.