Nuwellis (NASDAQ:NUWE) Trading 13.7% Higher – Still a Buy?

Nuwellis, Inc. (NASDAQ:NUWE)’s share price traded up 13.7% on Monday . The stock traded as high as $6.72 and last traded at $6.30. 1,194,109 shares traded hands during mid-day trading, an increase of 528% from the average session volume of 190,039 shares. The stock had previously closed at $5.54.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Roth Capital reiterated a “buy” rating on shares of Nuwellis in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Nuwellis to a “hold” rating in a report on Friday, July 18th.

Nuwellis Trading Up 13.7%

The company’s fifty day moving average is $9.71 and its two-hundred day moving average is $31.51. The stock has a market cap of $630,000.00 and a price-to-earnings ratio of -0.18.

Nuwellis (NASDAQ:NUWE) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($60.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($60.54). The company had revenue of $1.73 million for the quarter, compared to analysts’ expectations of $2.20 million. Nuwellis had a negative return on equity of 347.59% and a negative net margin of 176.45%. Analysts predict that Nuwellis, Inc. will post -8.17 EPS for the current year.

Institutional Investors Weigh In On Nuwellis

A hedge fund recently bought a new stake in Nuwellis stock. Virtu Financial LLC purchased a new position in shares of Nuwellis, Inc. (NASDAQ:NUWE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,080 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned 0.62% of Nuwellis at the end of the most recent reporting period. Institutional investors and hedge funds own 3.13% of the company’s stock.

About Nuwellis

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.