Nuwellis, Inc. (NASDAQ:NUWE) Sees Large Increase in Short Interest

Nuwellis, Inc. (NASDAQ:NUWE) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 369,455 shares, an increase of 945.0% from the May 14th total of 35,355 shares. Currently, 14.0% of the company’s shares are short sold. Based on an average daily volume of 190,620 shares, the days-to-cover ratio is presently 1.9 days.

Nuwellis Stock Performance

NUWE stock opened at $0.15 on Wednesday. Nuwellis has a 1 year low of $0.13 and a 1 year high of $25.95. The firm has a market cap of $389,136.00, a P/E ratio of 0.00 and a beta of 0.18. The stock has a 50-day simple moving average of $0.97 and a 200-day simple moving average of $1.67.

Nuwellis (NASDAQ:NUWE) last posted its earnings results on Tuesday, May 12th. The company reported ($2.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.09). Nuwellis had a negative net margin of 214.90% and a negative return on equity of 32,351.83%. The company had revenue of $2.40 million during the quarter, compared to analyst estimates of $2.09 million.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nuwellis in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Nuwellis

A hedge fund recently raised its stake in Nuwellis stock. Sabby Management LLC increased its stake in Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,685 shares of the company’s stock after buying an additional 53,791 shares during the quarter. Nuwellis comprises 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th largest position. Sabby Management LLC owned about 4.80% of Nuwellis worth $156,000 as of its most recent filing with the SEC. 3.13% of the stock is currently owned by institutional investors.

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.