Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Up 736.6% in July
by Doug Wharley · The Cerbat GemNuwellis, Inc. (NASDAQ:NUWE – Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 955,180 shares, a growth of 736.6% from the July 15th total of 114,178 shares. Based on an average daily volume of 11,160,715 shares, the short-interest ratio is currently 0.1 days. Currently, 52.1% of the company’s shares are sold short.
Analyst Upgrades and Downgrades
NUWE has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Nuwellis in a report on Wednesday, June 24th. 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 stock presently has a consensus rating of “Sell”.
Check Out Our Latest Report on NUWE
Nuwellis Price Performance
Shares of NUWE stock traded up $0.06 on Tuesday, reaching $1.48. 544,924 shares of the company were exchanged, compared to its average volume of 8,921,194. The company has a 50-day moving average of $3.75 and a 200-day moving average of $35.57. The company has a market cap of $2.75 million, a price-to-earnings ratio of -0.00 and a beta of 0.31. Nuwellis has a one year low of $1.34 and a one year high of $235.20.
Nuwellis (NASDAQ:NUWE – Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($73.15) EPS for the quarter, missing analysts’ consensus estimates of ($35.00) by ($38.15). 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 the consensus estimate of $2.09 million.
Institutional Investors Weigh In On Nuwellis
A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC lifted its position in shares of Nuwellis, Inc. (NASDAQ:NUWE – Free Report) by 149.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the quarter. Nuwellis accounts for 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th largest holding. Sabby Management LLC owned 4.80% of Nuwellis worth $156,000 at the end of the most recent quarter. Institutional investors and hedge funds own 3.13% of the company’s stock.
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.