Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Update

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totaling 35,355 shares, a decrease of 49.6% from the April 30th total of 70,218 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily volume of 50,737 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of Nuwellis

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC boosted its stake in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,685 shares of the company’s stock after acquiring an additional 53,791 shares during the period. Nuwellis accounts for 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th largest position. Sabby Management LLC owned approximately 4.80% of Nuwellis worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 3.13% of the stock is currently owned by institutional investors.

Nuwellis Stock Down 9.5%

Shares of NASDAQ NUWE traded down $0.07 during trading on Monday, reaching $0.70. 280,719 shares of the stock were exchanged, compared to its average volume of 1,310,660. The business’s 50-day moving average price is $1.07 and its 200 day moving average price is $1.78. Nuwellis has a twelve month low of $0.70 and a twelve month high of $39.04. The company has a market capitalization of $1.88 million, a price-to-earnings ratio of -0.01 and a beta of 0.19.

Nuwellis (NASDAQ:NUWE) last posted its earnings results on Tuesday, May 12th. The company reported ($2.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.09). Nuwellis had a negative return on equity of 32,351.83% and a negative net margin of 214.90%.The firm had revenue of $2.40 million for the quarter, compared to analyst estimates of $2.09 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nuwellis in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nuwellis currently has an average rating of “Sell”.

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.