Nuwellis (NASDAQ:NUWE) Shares Down 0.8% – Here’s Why

Nuwellis, Inc. (NASDAQ:NUWE)’s stock price was down 0.8% during trading on Thursday . The company traded as low as $3.57 and last traded at $3.57. Approximately 27,531 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 295,112 shares. The stock had previously closed at $3.60.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Nuwellis to a “hold” rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Nuwellis has a consensus rating of “Buy”.

Nuwellis Stock Down 0.8%

The firm’s 50-day moving average price is $6.47 and its 200 day moving average price is $22.42. The firm has a market cap of $3.21 million, a P/E ratio of -0.10 and a beta of 0.18.

Nuwellis (NASDAQ:NUWE) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($60.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($60.54). Nuwellis had a negative return on equity of 1,424.01% and a negative net margin of 176.45%.The company had revenue of $1.73 million for the quarter, compared to the consensus estimate of $2.20 million. On average, equities analysts predict that Nuwellis, Inc. will post -8.17 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nuwellis stock. Virtu Financial LLC acquired a new stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 27,080 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned approximately 0.62% of Nuwellis as of its most recent filing with the Securities & Exchange Commission. 3.13% of the stock is owned by hedge funds and other institutional investors.

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.