Nuwellis (NASDAQ:NUWE) Stock Price Down 1.3% – What’s Next?

Nuwellis, Inc. (NASDAQ:NUWE) shares dropped 1.3% on Wednesday . The stock traded as low as $0.87 and last traded at $0.87. Approximately 25,622 shares traded hands during trading, a decline of 97% from the average daily volume of 1,004,450 shares. The stock had previously closed at $0.88.

Nuwellis Stock Down 1.3 %

The company has a market capitalization of $3.81 million, a price-to-earnings ratio of -0.01 and a beta of 0.51. The stock has a 50 day simple moving average of $1.07 and a 200 day simple moving average of $1.27.

Institutional Investors Weigh In On Nuwellis

A hedge fund recently bought a new stake in Nuwellis stock. Geode Capital Management LLC acquired a new position in Nuwellis, Inc. (NASDAQ:NUWE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 30,806 shares of the company’s stock, valued at approximately $34,000. Geode Capital Management LLC owned 0.70% of Nuwellis as of its most recent SEC filing. Hedge funds and other institutional investors own 3.13% of the company’s stock.

Nuwellis Company Profile

Nuwellis, Inc, a medical device company, develops, manufactures, and commercializes medical devices used in ultrafiltration therapy. The company offers Aquadex FlexFlow and Aquadex SmartFlow systems, which are used to treat patients suffering from fluid overload due to heart failure. Its Aquadex FlexFlow system includes a console, disposable blood circuit set, and disposable catheter.