Sanuwave Health Inc. (NASDAQ:SNWV) Short Interest Down 45.8% in August

Sanuwave Health Inc. (NASDAQ:SNWV) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 304,527 shares, a decrease of 45.8% from the July 30th total of 561,489 shares. Approximately 4.1% of the shares of the company are sold short. Based on an average daily volume of 109,529 shares, the days-to-cover ratio is currently 2.8 days.

Hedge Funds Weigh In On Sanuwave Health

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in Sanuwave Health in the 2nd quarter valued at $186,000. AWM Investment Company Inc. acquired a new stake in shares of Sanuwave Health during the 2nd quarter worth $4,546,000. Solas Capital Management LLC bought a new position in shares of Sanuwave Health in the second quarter worth $6,110,000. BlackRock Inc. bought a new position in shares of Sanuwave Health in the second quarter worth $1,599,000. Finally, Corient Private Wealth LLC acquired a new position in Sanuwave Health in the fourth quarter valued at about $257,000. Institutional investors own 42.53% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Sanuwave Health from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Sanuwave Health Stock Performance

NASDAQ SNWV traded up $0.02 during trading on Friday, reaching $4.68. The company’s stock had a trading volume of 18,447 shares, compared to its average volume of 91,959. The company has a current ratio of 1.28, a quick ratio of 0.89 and a debt-to-equity ratio of 4.87. The firm has a market capitalization of $40.25 million, a price-to-earnings ratio of 19.50 and a beta of 1.48. Sanuwave Health has a 12 month low of $4.50 and a 12 month high of $42.75. The firm has a 50 day moving average price of $7.17 and a 200 day moving average price of $14.72.

Sanuwave Health (NASDAQ:SNWV) last announced its earnings results on Thursday, August 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Sanuwave Health had a return on equity of 1,728.10% and a net margin of 32.38%.The business had revenue of $9.74 million for the quarter, compared to the consensus estimate of $11.50 million.

Sanuwave Health Company Profile

Sanuwave Health, Inc is a medical technology company specializing in the development and commercialization of non-invasive acoustic wave therapies designed to stimulate tissue regeneration and accelerate healing. The company’s proprietary Extracorporeal Pulse Activated Technology (EPAT) delivers focused acoustic pressure waves to injured or chronic wound sites, activating the body’s natural repair mechanisms. Sanuwave’s primary therapeutic areas include advanced wound care for diabetic and venous ulcers, as well as orthopedic and musculoskeletal conditions.

The company’s lead product, the dermaPACE® system, holds clearance from the U.S.