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

Nuwellis, Inc. (NASDAQ:NUWE) was the recipient of a significant drop in short interest in 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 daily trading volume, of 156,907 shares, the short-interest ratio is presently 0.6 days. Approximately 2.5% of the company’s shares are short sold.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NUWE shares. 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 note on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Nuwellis has an average rating of “Sell”.

Nuwellis Stock Performance

Shares of NUWE stock traded down $0.10 during trading hours 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 twelve month low of $2.52 and a twelve month high of $1,556.07. The company has a market capitalization of $3.07 million, a P/E ratio of -0.00 and a beta of 0.09. The stock’s fifty day simple moving average is $6.64 and its 200 day simple moving average is $241.16.

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

About Nuwellis

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.