Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Up 736.6% in July

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 955,180 shares, a growth of 736.6% from the July 15th total of 114,178 shares. Based on an average trading volume of 11,160,715 shares, the days-to-cover ratio is presently 0.1 days. Currently, 52.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nuwellis stock. Sabby Management LLC grew its stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) by 149.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,685 shares of the company’s stock after purchasing 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 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 owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on NUWE. Wall Street Zen upgraded shares of Nuwellis to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuwellis in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Nuwellis Trading Down 3.7%

Shares of Nuwellis stock traded down $0.06 on Wednesday, reaching $1.43. 176,140 shares of the stock were exchanged, compared to its average volume of 1,232,756. The firm has a market capitalization of $2.65 million, a PE ratio of -0.00 and a beta of 0.31. Nuwellis has a 1-year low of $1.34 and a 1-year high of $235.20. The business has a fifty day moving average price of $3.75 and a two-hundred day moving average price of $35.57.

Nuwellis (NASDAQ:NUWE) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($73.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($35.00) by ($38.15). Nuwellis had a negative net margin of 214.90% and a negative return on equity of 32,351.83%. The business had revenue of $2.40 million during the quarter, compared to analysts’ expectations of $2.09 million.

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.