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

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 370,965 shares, a growth of 7,237.1% from the January 15th total of 5,056 shares. Currently, 24.8% of the company’s stock are sold short. Based on an average daily volume of 11,923,530 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 11,923,530 shares, the days-to-cover ratio is currently 0.0 days. Currently, 24.8% of the company’s stock are sold short.

Nuwellis Stock Performance

Shares of Nuwellis stock traded down $0.06 during trading on Tuesday, reaching $2.57. The company’s stock had a trading volume of 154,168 shares, compared to its average volume of 4,772,739. Nuwellis has a one year low of $1.71 and a one year high of $62.16. The firm has a market cap of $4.81 million, a price-to-earnings ratio of -0.02 and a beta of -0.12. The business’s fifty day moving average price is $2.39 and its 200-day moving average price is $3.61.

Nuwellis (NASDAQ:NUWE) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Sell-side analysts anticipate that Nuwellis will post -8.17 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on NUWE shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuwellis in a research report on Monday, December 29th. Wall Street Zen downgraded Nuwellis from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold”.

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.