Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Down 58.4% in June

Nuwellis, Inc. (NASDAQ:NUWE) saw a significant drop in short interest in June. As of June 15th, there was short interest totaling 153,869 shares, a drop of 58.4% from the May 31st total of 369,455 shares. Based on an average daily volume of 7,466,231 shares, the days-to-cover ratio is presently 0.0 days. Currently, 5.8% of the company’s stock are sold short.

Institutional Trading of Nuwellis

An institutional investor recently raised its stake in Nuwellis stock. Sabby Management LLC raised its stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the quarter. Nuwellis comprises 0.2% of Sabby Management LLC’s holdings, making the stock its 18th biggest 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. Hedge funds and other institutional investors own 3.13% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuwellis in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Nuwellis Trading Down 3.6%

Shares of NUWE stock traded down $0.12 during trading hours on Monday, reaching $3.18. 315,227 shares of the company’s stock were exchanged, compared to its average volume of 66,880. The stock’s 50 day moving average is $25.10 and its 200-day moving average is $51.33. The company has a market cap of $254,400.00, a price-to-earnings ratio of -0.00 and a beta of 0.19. Nuwellis has a fifty-two week low of $2.88 and a fifty-two week high of $908.25.

Nuwellis (NASDAQ:NUWE) last announced its earnings results on Tuesday, May 12th. The company reported ($73.15) earnings per share for the quarter, missing the consensus estimate of ($35.00) by ($38.15). Nuwellis had a negative return on equity of 32,351.83% and a negative net margin of 214.90%.The business had revenue of $2.40 million for the quarter, compared to analysts’ expectations of $2.09 million.

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.