Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Down 50.6% in June

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 76,020 shares, a decline of 50.6% from the June 15th total of 153,869 shares. Based on an average daily volume of 203,083 shares, the days-to-cover ratio is presently 0.4 days. Approximately 100.0% of the company’s stock are sold short.

Nuwellis Price Performance

NUWE stock traded down $0.10 during trading hours on Wednesday, reaching $3.12. 388,512 shares of the stock were exchanged, compared to its average volume of 75,865. The firm’s 50-day moving average is $16.16 and its 200-day moving average is $44.81. Nuwellis has a 12 month low of $2.73 and a 12 month high of $908.25. The company has a market cap of $249,600.00, a price-to-earnings ratio of -0.00 and a beta of 0.29.

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

Hedge Funds Weigh In On Nuwellis

A hedge fund recently raised its position in Nuwellis stock. Sabby Management LLC grew its holdings in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the period. Nuwellis comprises approximately 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th biggest holding. Sabby Management LLC owned approximately 4.80% of Nuwellis worth $156,000 at the end of the most recent quarter. Institutional investors own 3.13% of the company’s stock.

Wall Street Analyst Weigh In

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

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.