Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Up 945.0% in May

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 369,455 shares, an increase of 945.0% from the May 14th total of 35,355 shares. Currently, 14.0% of the company’s stock are short sold. Based on an average daily volume of 190,620 shares, the short-interest ratio is presently 1.9 days.

Nuwellis Price Performance

Nuwellis stock opened at $0.14 on Friday. Nuwellis has a 1-year low of $0.13 and a 1-year high of $25.95. The stock has a market cap of $375,200.00, a PE ratio of 0.00 and a beta of 0.18. The stock’s fifty day moving average is $0.94 and its two-hundred day moving average is $1.64.

Nuwellis (NASDAQ:NUWE) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($2.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.40 million during the quarter, compared to analyst estimates of $2.09 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nuwellis in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Trading of Nuwellis

An institutional investor recently raised its position in Nuwellis stock. Sabby Management LLC lifted its position in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the period. 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 at the end of the most recent reporting period. 3.13% of the stock is 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.