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

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 207,800 shares, a decline of 21.3% from the February 13th total of 264,200 shares. Based on an average daily trading volume, of 516,100 shares, the short-interest ratio is currently 0.4 days. Approximately 4.8% of the shares of the company are short sold.

Institutional Investors Weigh In On Nuwellis

A hedge fund recently bought a new stake in Nuwellis stock. Geode Capital Management LLC acquired a new position in Nuwellis, Inc. (NASDAQ:NUWE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,806 shares of the company’s stock, valued at approximately $34,000. Geode Capital Management LLC owned approximately 0.70% of Nuwellis at the end of the most recent quarter. 3.13% of the stock is currently owned by hedge funds and other institutional investors.

Nuwellis Stock Performance

Shares of NASDAQ NUWE remained flat at $1.16 during midday trading on Monday. The stock had a trading volume of 34,801 shares, compared to its average volume of 555,682. The business’s fifty day moving average is $1.21 and its 200 day moving average is $1.34. The stock has a market cap of $5.07 million, a price-to-earnings ratio of -0.01 and a beta of 0.36. Nuwellis has a fifty-two week low of $0.92 and a fifty-two week high of $16.63.

Nuwellis Company Profile

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.