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

Nuwellis, Inc. (NASDAQ:NUWE) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 369,455 shares, a growth of 945.0% from the May 14th total of 35,355 shares. Based on an average daily trading volume, of 190,620 shares, the days-to-cover ratio is currently 1.9 days. Currently, 14.0% of the shares of the stock are short sold.

Nuwellis Stock Performance

Shares of NASDAQ:NUWE traded down $0.01 during mid-day trading on Thursday, hitting $0.15. The stock had a trading volume of 2,569,910 shares, compared to its average volume of 1,891,786. The company has a market cap of $393,960.00, a PE ratio of 0.00 and a beta of 0.18. Nuwellis has a 12-month low of $0.13 and a 12-month high of $25.95. The company’s 50 day moving average is $0.96 and its 200-day moving average is $1.66.

Nuwellis (NASDAQ:NUWE) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($2.09) EPS 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 analysts’ expectations of $2.09 million.

Institutional Investors Weigh In On Nuwellis

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC grew its holdings in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,685 shares of the company’s stock after acquiring an additional 53,791 shares during the period. Nuwellis accounts for approximately 0.2% of Sabby Management LLC’s holdings, making the stock its 18th largest position. Sabby Management LLC owned about 4.80% of Nuwellis worth $156,000 at the end of the most recent quarter. Institutional investors own 3.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuwellis in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Nuwellis has an average rating of “Sell”.

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.