Nuwellis (NASDAQ:NUWE) Upgraded at Wall Street Zen

Nuwellis (NASDAQ:NUWE) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

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

Nuwellis Stock Down 3.1%

NUWE stock opened at $2.85 on Friday. The business has a 50 day moving average price of $14.05 and a two-hundred day moving average price of $43.53. The company has a market cap of $228,000.00, a price-to-earnings ratio of -0.00 and a beta of 0.29. Nuwellis has a twelve month low of $2.73 and a twelve month high of $577.50.

Nuwellis (NASDAQ:NUWE) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($73.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.09 million.

Hedge Funds Weigh In On Nuwellis

An institutional investor recently raised its stake in Nuwellis stock. Sabby Management LLC boosted its holdings in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,685 shares of the company’s stock after buying an additional 53,791 shares during the quarter. Nuwellis makes up approximately 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th largest position. Sabby Management LLC owned approximately 4.80% of Nuwellis worth $156,000 at the end of the most recent quarter. 3.13% of the stock is 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.