Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Update

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 35,355 shares, a drop of 49.6% from the April 30th total of 70,218 shares. Based on an average daily trading volume, of 50,737 shares, the short-interest ratio is currently 0.7 days. Approximately 1.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nuwellis in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Nuwellis currently has an average rating of “Sell”.

Nuwellis Stock Performance

NUWE stock traded down $0.07 during trading on Monday, hitting $0.70. The stock had a trading volume of 280,719 shares, compared to its average volume of 1,310,660. The company’s 50 day moving average price is $1.07 and its two-hundred day moving average price is $1.78. Nuwellis has a 1-year low of $0.70 and a 1-year high of $39.04. The stock has a market cap of $1.88 million, a price-to-earnings ratio of -0.01 and a beta of 0.19.

Nuwellis (NASDAQ:NUWE) last announced its earnings results on Tuesday, May 12th. The company reported ($2.09) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.09). Nuwellis had a negative net margin of 214.90% and a negative return on equity of 32,351.83%. The firm had revenue of $2.40 million during the quarter, compared to analyst estimates of $2.09 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nuwellis stock. Sabby Management LLC grew its stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,685 shares of the company’s stock after acquiring an additional 53,791 shares during the quarter. Nuwellis comprises about 0.2% of Sabby Management LLC’s holdings, making the stock its 18th largest position. Sabby Management LLC owned 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 currently owned by institutional investors.

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.