Nuwellis (NASDAQ:NUWE) Upgraded to “Buy” by Zacks Investment Research

Nuwellis (NASDAQ:NUWE – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm presently has a $0.75 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 7.67% from the company’s current price.

According to Zacks, “Nuwellis Inc. is a medical device company. It is focused on developing, manufacturing and commercializing the Aquadex SmartFlow(R) System for ultrafiltration therapy. Nuwellis Inc., formerly known as CHF Solutions, is headquartered in Minneapolis, Minn. “

Shares of NASDAQ:NUWE opened at $0.70 on Thursday. The stock has a market capitalization of $7.34 million, a price-to-earnings ratio of -0.30 and a beta of 0.90. Nuwellis has a 1-year low of $0.55 and a 1-year high of $5.30. The company’s fifty day moving average is $0.78 and its two-hundred day moving average is $1.02.

Large investors have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in shares of Nuwellis during the second quarter worth $45,000. Geode Capital Management LLC raised its holdings in shares of Nuwellis by 17.6% during the third quarter. Geode Capital Management LLC now owns 43,819 shares of the company’s stock worth $96,000 after purchasing an additional 6,561 shares during the period. Millennium Management LLC acquired a new stake in shares of Nuwellis during the second quarter worth $112,000. Renaissance Technologies LLC raised its holdings in shares of Nuwellis by 15.8% during the fourth quarter. Renaissance Technologies LLC now owns 205,600 shares of the company’s stock worth $234,000 after purchasing an additional 28,003 shares during the period. Finally, Bard Associates Inc. raised its holdings in shares of Nuwellis by 3.7% during the first quarter. Bard Associates Inc. now owns 442,818 shares of the company’s stock worth $447,000 after purchasing an additional 16,000 shares during the period. 18.18% of the stock is currently owned by institutional investors.

Nuwellis Company Profile (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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