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

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

Shares of NUWE stock opened at $0.57 on Friday. The stock has a market cap of $5.74 million, a PE ratio of -0.25 and a beta of 0.89. The business has a 50-day simple moving average of $0.85 and a 200-day simple moving average of $1.09. Nuwellis has a 52-week low of $0.55 and a 52-week high of $5.39.

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

A number of large investors have recently bought and sold shares of NUWE. Citadel Advisors LLC purchased a new stake in shares of Nuwellis in the second quarter valued at approximately $45,000. Millennium Management LLC purchased a new stake in shares of Nuwellis in the second quarter valued at approximately $112,000. Geode Capital Management LLC grew its position in shares of Nuwellis by 17.6% in the third quarter. Geode Capital Management LLC now owns 43,819 shares of the company’s stock valued at $96,000 after purchasing an additional 6,561 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Nuwellis by 223.5% in the third quarter. Renaissance Technologies LLC now owns 177,597 shares of the company’s stock valued at $391,000 after purchasing an additional 122,697 shares in the last quarter. Finally, CVI Holdings LLC purchased a new stake in shares of Nuwellis in the third quarter valued at approximately $464,000. Institutional investors own 18.18% of the company’s stock.

Separately, Zacks Investment Research upgraded Nuwellis from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a research note on Saturday, May 14th.

About Nuwellis (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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