Nuwellis, Inc. (NASDAQ:NUWE) Short Interest Update

Nuwellis, Inc. (NASDAQ:NUWE – Get Rating) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 44,700 shares, a growth of 121.3% from the March 31st total of 20,200 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 154,800 shares, the short-interest ratio is currently 0.3 days.

Shares of NASDAQ:NUWE opened at $0.80 on Friday. Nuwellis has a 52 week low of $0.75 and a 52 week high of $5.39. The company has a 50-day moving average price of $0.96 and a 200 day moving average price of $1.27. The company has a market cap of $8.04 million, a P/E ratio of -0.26 and a beta of 0.88.

Nuwellis (NASDAQ:NUWE – Get Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.07. Nuwellis had a negative return on equity of 69.75% and a negative net margin of 247.17%. During the same period in the previous year, the company posted ($1.13) earnings per share. As a group, analysts predict that Nuwellis will post -1.47 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the business. AIGH Capital Management LLC purchased a new position in shares of Nuwellis in the 3rd quarter valued at about $1,671,000. CVI Holdings LLC acquired a new stake in shares of Nuwellis during the 3rd quarter valued at approximately $464,000. Renaissance Technologies LLC boosted its stake in shares of Nuwellis by 15.8% during the 4th quarter. Renaissance Technologies LLC now owns 205,600 shares of the company’s stock worth $234,000 after acquiring an additional 28,003 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Nuwellis in the 4th quarter worth approximately $67,000. Finally, Geode Capital Management LLC raised its holdings in Nuwellis by 17.6% during the third quarter. Geode Capital Management LLC now owns 43,819 shares of the company’s stock worth $96,000 after purchasing an additional 6,561 shares during the last quarter. Institutional investors own 29.94% of the company’s stock.

Separately, Zacks Investment Research upgraded Nuwellis from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research note on Wednesday, April 6th.

Nuwellis Company Profile (Get Rating)

Nuwellis, Inc, a medical device company, focuses on developing, manufacturing, and commercializing medical devices used in ultrafiltration therapy. The company's products are the Aquadex FlexFlow and Aquadex SmartFlow systems, which are indicated for the treatment of patients suffering from fluid overload who have failed diuretics.

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