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

Nuwellis, Inc. (NASDAQ:NUWE) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 207,800 shares, a drop 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.

Nuwellis Stock Performance

Shares of NASDAQ NUWE remained flat at $1.16 during mid-day trading on Monday. 34,801 shares of the company traded hands, compared to its average volume of 555,682. The firm’s 50 day moving average price is $1.21 and its 200-day moving average price is $1.34. Nuwellis has a twelve month low of $0.92 and a twelve month high of $16.63. The company has a market cap of $5.07 million, a price-to-earnings ratio of -0.01 and a beta of 0.36.

Institutional Investors 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) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing. Institutional investors own 3.13% of the company’s stock.

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.