Nuwellis, Inc. (NASDAQ:NUWE) Sees Significant Decline in Short Interest

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a large drop in short interest in the month of 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 daily 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 Price Performance

Shares of NASDAQ NUWE opened at $1.67 on Monday. Nuwellis has a 1 year low of $1.00 and a 1 year high of $43.75. The company has a market capitalization of $3.11 million, a price-to-earnings ratio of -0.01 and a beta of 0.43. The business has a 50-day moving average of $1.58 and a two-hundred day moving average of $5.45.

Nuwellis (NASDAQ:NUWE) last posted its earnings results on Tuesday, August 13th. The company reported ($18.85) earnings per share for the quarter, missing the consensus estimate of ($9.49) by ($9.36). The business had revenue of $2.19 million for the quarter, compared to analysts’ expectations of $1.90 million. Nuwellis had a negative return on equity of 1,716.60% and a negative net margin of 232.24%. As a group, equities research analysts expect that Nuwellis will post -9.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Roth Mkm restated a “buy” rating and set a $17.00 target price on shares of Nuwellis in a research note on Tuesday, August 13th. Roth Capital raised shares of Nuwellis to a “strong-buy” rating in a research report on Monday, July 29th.

Nuwellis Company Profile

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.