Nuwellis, Inc. (NASDAQ:NUWE) Sees Large Drop in Short Interest

Nuwellis, Inc. (NASDAQ:NUWE) saw a large decrease in short interest in February. As of February 15th, there was short interest totalling 264,200 shares, a decrease of 52.7% from the January 31st total of 558,100 shares. Based on an average daily trading volume, of 561,500 shares, the days-to-cover ratio is presently 0.5 days. Currently, 6.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nuwellis stock. Geode Capital Management LLC purchased a new stake in shares of Nuwellis, Inc. (NASDAQ:NUWE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 30,806 shares of the company’s stock, valued at approximately $34,000. Geode Capital Management LLC owned about 0.70% of Nuwellis at the end of the most recent reporting period. 3.13% of the stock is owned by institutional investors.

Nuwellis Stock Up 2.5 %

Shares of NASDAQ:NUWE traded up $0.03 during trading on Friday, reaching $1.25. 82,901 shares of the company traded hands, compared to its average volume of 996,200. Nuwellis has a 1-year low of $0.92 and a 1-year high of $22.05. The firm has a market cap of $5.47 million, a P/E ratio of -0.01 and a beta of 0.31. The firm has a fifty day simple moving average of $1.20 and a 200 day simple moving average of $1.38.

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.