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

by · The Cerbat Gem

Nuwellis, Inc. (NASDAQ:NUWE – Get Free Report) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 177,000 shares, a decline 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 shares of the company are short sold.

Nuwellis Stock Up 19.8 %

Shares of NUWE traded up $0.28 during midday trading on Friday, hitting $1.67. 990,720 shares of the company traded hands, compared to its average volume of 1,090,395. Nuwellis has a 52 week low of $1.00 and a 52 week high of $43.75. The firm has a 50 day moving average of $1.58 and a 200-day moving average of $5.51.

Nuwellis (NASDAQ:NUWE – Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($18.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($9.49) by ($9.36). The firm had revenue of $2.19 million during the quarter, compared to the consensus estimate of $1.90 million. Nuwellis had a negative return on equity of 1,716.60% and a negative net margin of 232.24%. Analysts forecast that Nuwellis will post -9.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NUWE shares. Roth Capital upgraded Nuwellis to a “strong-buy” rating in a research note on Monday, July 29th. Roth Mkm reiterated a “buy” rating and set a $17.00 target price on shares of Nuwellis in a research report on Tuesday, August 13th.

Get Our Latest Research Report on NUWE

Nuwellis Company Profile

(Get Free Report)

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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