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

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

Nuwellis Stock Down 3.4%

Shares of NASDAQ:NUWE traded down $0.10 during midday trading on Friday, reaching $2.84. 33,518 shares of the company traded hands, compared to its average volume of 76,203. The firm’s fifty day moving average price is $14.75 and its two-hundred day moving average price is $43.82. The firm has a market capitalization of $227,200.00, a price-to-earnings ratio of -0.00 and a beta of 0.29. Nuwellis has a 12 month low of $2.73 and a 12 month high of $577.50.

Nuwellis (NASDAQ:NUWE) last issued its earnings results on Tuesday, May 12th. The company reported ($73.15) EPS 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 company had revenue of $2.40 million during the quarter, compared to the consensus estimate of $2.09 million.

Hedge Funds Weigh In On Nuwellis

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

Wall Street Analysts Forecast Growth

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