Nuwellis, Inc. (NASDAQ:NUWE) Stock Short Interest Drops 46.6%

by · The Markets Daily

Nuwellis, Inc. (NASDAQ:NUWE – Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 89,357 shares, a drop of 46.6% from the September 30th total of 167,440 shares. Based on an average trading volume of 156,907 shares, the days-to-cover ratio is presently 0.6 days. Currently, 2.5% of the company’s shares are sold short.

Nuwellis Stock Performance

Nuwellis stock traded down $0.10 during trading on Friday, reaching $5.68. The company had a trading volume of 305,438 shares, compared to its average volume of 2,068,919. Nuwellis has a 12-month low of $2.52 and a 12-month high of $1,556.07. The stock’s 50 day moving average price is $6.64 and its two-hundred day moving average price is $241.16. The firm has a market capitalization of $3.07 million, a price-to-earnings ratio of -0.00 and a beta of 0.09.

Nuwellis (NASDAQ:NUWE – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($239.76) EPS for the quarter, missing analysts’ consensus estimates of ($214.20) by ($25.56). Nuwellis had a negative return on equity of 623.14% and a negative net margin of 123.38%. The firm had revenue of $1.97 million for the quarter, compared to analyst estimates of $2.42 million.

Analyst Ratings Changes

A number of research analysts have weighed in on NUWE shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuwellis in a research note on Monday, September 21st. Wall Street Zen raised Nuwellis to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Nuwellis has a consensus rating of “Sell”.

View Our Latest Stock Report on Nuwellis

Nuwellis Company Profile

(Get Free Report)

Nuwellis, Inc is a medical device company focused on fluid management therapies for patients with fluid overload. The company develops and commercializes ultrafiltration technologies designed to remove excess salt and fluid from the blood when conventional diuretic therapy may be inadequate or poorly tolerated.

Nuwellis’ principal product is the Aquadex system, including the Aquadex FlexFlow system, a compact ultrafiltration platform used in hospital settings. The system is intended for temporary extracorporeal fluid removal in patients with conditions such as fluid overload associated with heart failure, renal dysfunction, and other critical-care needs.

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