Nuwellis (NASDAQ:NUWE) Cut to “Hold” at Zacks Investment Research

Nuwellis (NASDAQ:NUWE – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Nuwellis Inc. is a medical device company. It is focused on developing, manufacturing and commercializing the Aquadex SmartFlow(R) System for ultrafiltration therapy. Nuwellis Inc., formerly known as CHF Solutions, is headquartered in Minneapolis, Minn. “

NASDAQ NUWE opened at $0.74 on Wednesday. The firm’s 50 day moving average is $0.94. The firm has a market capitalization of $7.42 million, a P/E ratio of -0.24 and a beta of 0.89. Nuwellis has a 1-year low of $0.73 and a 1-year high of $5.39.

Nuwellis (NASDAQ:NUWE – Get Rating) last released its quarterly earnings data on Tuesday, March 1st. The company reported ($0.41) earnings per share for the quarter. Nuwellis had a negative net margin of 247.17% and a negative return on equity of 69.75%. The company had revenue of $1.64 million for the quarter. During the same quarter last year, the firm earned ($1.13) earnings per share. As a group, equities analysts predict that Nuwellis will post -1.47 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of NUWE. CVI Holdings LLC bought a new position in Nuwellis in the 3rd quarter worth approximately $464,000. AIGH Capital Management LLC bought a new stake in shares of Nuwellis during the 3rd quarter valued at $1,671,000. Renaissance Technologies LLC raised its position in shares of Nuwellis by 223.5% during the 3rd quarter. Renaissance Technologies LLC now owns 177,597 shares of the company’s stock valued at $391,000 after acquiring an additional 122,697 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Nuwellis during the 2nd quarter valued at $112,000. Finally, Geode Capital Management LLC raised its position in shares of Nuwellis by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 43,819 shares of the company’s stock valued at $96,000 after acquiring an additional 6,561 shares during the last quarter. Institutional investors own 18.18% of the company’s stock.

About Nuwellis (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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