Nuwellis, Inc. (NASDAQ:NUWE) Shares Shorted: Short Interest Down 46.6% in October

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a significant 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. Based on an average daily volume of 156,907 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NUWE. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a research note on Monday, September 21st. Wall Street Zen raised shares of Nuwellis to a “hold” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Nuwellis Stock Performance

NASDAQ NUWE traded down $0.50 during trading hours on Monday, hitting $5.18. 71,462 shares of the company traded hands, compared to its average volume of 1,332,867. The business’s 50-day moving average is $6.54 and its 200-day moving average is $238.08. The stock has a market capitalization of $2.80 million, a price-to-earnings ratio of -0.00 and a beta of 0.09. Nuwellis has a twelve month low of $2.52 and a twelve month high of $1,556.07.

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

Nuwellis Company Profile

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.