Nuwellis (NASDAQ:NUWE) Shares Up 3.8% – Here’s What Happened

Nuwellis, Inc. (NASDAQ:NUWE)’s stock price was up 3.8% on Wednesday . The stock traded as high as $1.12 and last traded at $1.09. Approximately 31,299 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 92,000 shares. The stock had previously closed at $1.05.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuwellis in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Nuwellis Price Performance

The stock has a market cap of $2.52 million, a price-to-earnings ratio of -0.01 and a beta of 0.08. The firm has a fifty day moving average of $1.88 and a 200 day moving average of $2.43.

Nuwellis (NASDAQ:NUWE) last released its quarterly earnings data on Tuesday, March 10th. The company reported ($1.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.56) by $0.06. Nuwellis had a negative return on equity of 6,094.26% and a negative net margin of 211.86%.The company had revenue of $2.42 million for the quarter, compared to analyst estimates of $2.31 million. Research analysts anticipate that Nuwellis, Inc. will post -8.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nuwellis

An institutional investor recently raised its position in Nuwellis stock. Sabby Management LLC boosted its position in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,685 shares of the company’s stock after purchasing an additional 53,791 shares during the period. Nuwellis makes up 0.2% of Sabby Management LLC’s holdings, making the stock its 18th biggest holding. Sabby Management LLC owned 4.80% of Nuwellis worth $156,000 at the end of the most recent quarter. 3.13% of the stock is currently owned by institutional investors and hedge funds.

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.