Nuwellis (NASDAQ:NUWE) Announces Quarterly Earnings Results

Nuwellis (NASDAQ:NUWE) announced its quarterly earnings results on Monday. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $2.62, Zacks reports. The company had revenue of $2.37 million during the quarter, compared to analyst estimates of $2.40 million. Nuwellis had a negative net margin of 232.24% and a negative return on equity of 1,716.60%. During the same quarter in the previous year, the business earned ($63.29) EPS.

Nuwellis Stock Down 5.9 %

Shares of NASDAQ:NUWE traded down $0.12 during mid-day trading on Tuesday, reaching $1.93. 1,048,744 shares of the stock were exchanged, compared to its average volume of 948,617. The company has a market cap of $3.60 million, a P/E ratio of -0.01 and a beta of 0.36. The stock’s 50 day simple moving average is $1.51 and its 200-day simple moving average is $3.94. Nuwellis has a one year low of $1.00 and a one year high of $31.15.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NUWE. Roth Mkm reissued a “buy” rating and issued a $17.00 target price on shares of Nuwellis in a research note on Tuesday, August 13th. Roth Capital upgraded shares of Nuwellis to a “strong-buy” rating in a report on Monday, July 29th.

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.