Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Declines By 52.7%

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

Hedge Funds Weigh In On Nuwellis

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

Nuwellis Stock Down 4.0 %

Shares of NASDAQ NUWE traded down $0.05 during trading on Monday, reaching $1.20. 93,505 shares of the stock were exchanged, compared to its average volume of 996,511. The company has a market capitalization of $5.25 million, a price-to-earnings ratio of -0.01 and a beta of 0.31. The business’s 50-day moving average price is $1.20 and its 200 day moving average price is $1.36. Nuwellis has a twelve month low of $0.92 and a twelve month high of $22.05.

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.