Short Interest in Nuwellis, Inc. (NASDAQ:NUWE) Declines By 21.3%

Nuwellis, Inc. (NASDAQ:NUWE) saw a large drop in short interest during 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 volume of 516,100 shares, the short-interest ratio is presently 0.4 days. Approximately 4.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nuwellis stock. Geode Capital Management LLC acquired a new position in shares of Nuwellis, Inc. (NASDAQ:NUWE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 reporting period. 3.13% of the stock is currently owned by institutional investors and hedge funds.

Nuwellis Price Performance

Shares of NUWE stock traded down $0.05 on Tuesday, hitting $1.11. 53,910 shares of the company’s stock were exchanged, compared to its average volume of 999,654. The company has a 50 day moving average of $1.21 and a 200 day moving average of $1.33. The stock has a market cap of $4.86 million, a P/E ratio of -0.01 and a beta of 0.36. Nuwellis has a 12 month low of $0.92 and a 12 month 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.