Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Expands By 149.3%

Nuwellis, Inc. (NASDAQ:NUWEGet Rating) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 34,900 shares, an increase of 149.3% from the April 30th total of 14,000 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 146,900 shares, the days-to-cover ratio is currently 0.2 days.

Shares of NASDAQ:NUWE opened at $0.57 on Friday. The company has a market cap of $5.74 million, a P/E ratio of -0.25 and a beta of 0.89. Nuwellis has a 52 week low of $0.55 and a 52 week high of $5.39. The company has a 50-day moving average price of $0.85 and a 200 day moving average price of $1.09.

Nuwellis (NASDAQ:NUWEGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The company reported ($0.41) EPS for the quarter. Nuwellis had a negative net margin of 237.48% and a negative return on equity of 72.68%. The firm had revenue of $1.64 million during the quarter. During the same period in the prior year, the firm posted ($1.13) EPS. As a group, analysts predict that Nuwellis will post -1.47 earnings per share for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Nuwellis from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research report on Saturday, May 14th.

Hedge funds have recently bought and sold shares of the company. CVI Holdings LLC acquired a new stake in shares of Nuwellis during the 3rd quarter valued at approximately $464,000. Renaissance Technologies LLC lifted 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 period. Millennium Management LLC acquired a new stake in shares of Nuwellis during the 2nd quarter valued at approximately $112,000. Geode Capital Management LLC lifted 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 period. Finally, Citadel Advisors LLC purchased a new position in shares of Nuwellis during the 4th quarter worth approximately $67,000. Institutional investors own 18.18% of the company’s stock.

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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