Nuwellis, Inc. (NASDAQ:NUWE) Sees Large Drop in Short Interest

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 89,357 shares, a decrease of 46.6% from the September 30th total of 167,440 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 156,907 shares, the days-to-cover ratio is currently 0.6 days.

Nuwellis Price Performance

Shares of NASDAQ NUWE traded down $0.10 during trading hours on Friday, hitting $5.68. 305,438 shares of the company’s stock were exchanged, compared to its average volume of 2,068,919. The stock has a market capitalization of $3.07 million, a price-to-earnings ratio of -0.00 and a beta of 0.09. The company’s 50-day moving average price is $6.64 and its 200-day moving average price is $241.16. Nuwellis has a 1-year low of $2.52 and a 1-year high of $1,556.07.

Nuwellis (NASDAQ:NUWE) last released its quarterly earnings results on Thursday, August 13th. The company reported ($239.76) EPS for the quarter, missing the consensus estimate of ($214.20) by ($25.56). Nuwellis had a negative net margin of 123.38% and a negative return on equity of 623.14%. The company had revenue of $1.97 million for the quarter, compared to the consensus estimate of $2.42 million.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NUWE. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuwellis in a research note on Monday, September 21st. Wall Street Zen raised Nuwellis to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About Nuwellis

Nuwellis, Inc is a medical device company focused on fluid management therapies for patients with fluid overload. The company develops and commercializes ultrafiltration technologies designed to remove excess salt and fluid from the blood when conventional diuretic therapy may be inadequate or poorly tolerated.

Nuwellis’ principal product is the Aquadex system, including the Aquadex FlexFlow system, a compact ultrafiltration platform used in hospital settings. The system is intended for temporary extracorporeal fluid removal in patients with conditions such as fluid overload associated with heart failure, renal dysfunction, and other critical-care needs.