Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Drops By 20.0%

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 177,000 shares, a drop of 20.0% from the September 15th total of 221,200 shares. Based on an average trading volume of 691,300 shares, the days-to-cover ratio is presently 0.3 days. Currently, 16.2% of the company’s stock are short sold.

Nuwellis Stock Up 4.3 %

Nuwellis stock traded up $0.06 during midday trading on Tuesday, hitting $1.45. 195,114 shares of the stock were exchanged, compared to its average volume of 321,703. Nuwellis has a 52-week low of $1.00 and a 52-week high of $43.75. The business’s 50-day moving average price is $1.53 and its 200-day moving average price is $5.29. The stock has a market capitalization of $748,200.00, a price-to-earnings ratio of 0.00 and a beta of 0.43.

Nuwellis (NASDAQ:NUWE) last released its earnings results on Tuesday, August 13th. The company reported ($18.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($9.49) by ($9.36). The business had revenue of $2.19 million during the quarter, compared to the consensus estimate of $1.90 million. Nuwellis had a negative net margin of 232.24% and a negative return on equity of 1,716.60%. On average, sell-side analysts predict that Nuwellis will post -9.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on NUWE shares. Roth Mkm reissued a “buy” rating and set a $17.00 price objective on shares of Nuwellis in a report on Tuesday, August 13th. Roth Capital raised Nuwellis to a “strong-buy” rating in a research report on Monday, July 29th.

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.