Nuwellis, Inc. (NASDAQ:NUWE) Shares Shorted: Short Interest Up 339.6% in September

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totaling 167,440 shares, an increase of 339.6% from the September 15th total of 38,092 shares. Based on an average daily trading volume, of 5,679,036 shares, the short-interest ratio is currently 0.0 days. Approximately 4.7% of the shares of the company are sold short.

Hedge Funds Weigh In On Nuwellis

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NUWE. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a research note on Monday, September 21st. Wall Street Zen upgraded shares of Nuwellis to a “hold” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of “Sell”.

Nuwellis Trading Down 2.7%

Shares of NUWE traded down $0.02 during trading hours on Monday, reaching $0.67. 107,488 shares of the stock traded hands, compared to its average volume of 1,472,079. The company has a market cap of $2.44 million, a P/E ratio of -0.01 and a beta of 0.09. The company’s 50-day moving average price is $0.99 and its two-hundred day moving average price is $14.34. Nuwellis has a 52-week low of $0.67 and a 52-week high of $172.90.

Nuwellis (NASDAQ:NUWE) last issued its earnings results on Thursday, August 13th. The company reported ($26.64) earnings per share for the quarter, missing the consensus estimate of ($23.80) by ($2.84). The firm had revenue of $1.97 million during the quarter, compared to the consensus estimate 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, Inc is a medical device company focused on treating patients with fluid overload associated with heart failure and other conditions. The company’s technology is designed to remove excess salt and fluid from the body through ultrafiltration, offering an alternative or complement to conventional diuretic therapy.

Nuwellis’ principal product is the Aquadex system, a compact ultrafiltration platform used in hospital and clinical settings. The system includes a console, blood circuit and specialized catheter components, and is intended to help healthcare professionals manage fluid overload in patients who may not respond adequately to diuretics.

The company was formerly known as CHF Solutions, Inc and adopted the Nuwellis name in 2020.