Nuwellis, Inc. (NASDAQ:NUWE) Sees Significant Increase in Short Interest

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 370,965 shares, an increase of 7,237.1% from the January 15th total of 5,056 shares. Based on an average daily trading volume, of 11,923,530 shares, the short-interest ratio is presently 0.0 days. Approximately 24.8% of the shares of the stock are short sold. Approximately 24.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,923,530 shares, the short-interest ratio is presently 0.0 days.

Nuwellis Trading Down 2.3%

NASDAQ NUWE traded down $0.06 on Tuesday, hitting $2.57. 154,168 shares of the company were exchanged, compared to its average volume of 4,772,739. Nuwellis has a 1-year low of $1.71 and a 1-year high of $62.16. The company has a market cap of $4.81 million, a P/E ratio of -0.02 and a beta of -0.12. The firm has a 50 day moving average of $2.39 and a two-hundred day moving average of $3.61.

Nuwellis (NASDAQ:NUWE) last announced its earnings results on Wednesday, November 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($17.22) by $17.78. The company had revenue of $2.22 million for the quarter, compared to analyst estimates of $2.50 million. Nuwellis had a negative net margin of 202.83% and a negative return on equity of 1,367.63%. Research analysts anticipate that Nuwellis will post -8.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on NUWE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a research report on Monday, December 29th. Wall Street Zen lowered shares of Nuwellis from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

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.