Nuwellis (NASDAQ:NUWE) Announces Earnings Results, Beats Estimates By $2.62 EPS

Nuwellis (NASDAQ:NUWE) announced its quarterly earnings data 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. Nuwellis had a negative net margin of 169.54% and a negative return on equity of 1,716.60%. The company had revenue of $2.37 million for the quarter, compared to analysts’ expectations of $2.40 million. During the same period in the previous year, the company posted ($63.29) EPS.

Nuwellis Trading Down 9.3 %

NASDAQ:NUWE traded down $0.18 during trading hours on Wednesday, hitting $1.75. The company’s stock had a trading volume of 269,331 shares, compared to its average volume of 7,186,539. The business’s 50-day moving average is $1.52 and its two-hundred day moving average is $3.92. Nuwellis has a 52-week low of $1.00 and a 52-week high of $31.15.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Roth Mkm reiterated a “buy” rating and set a $17.00 price target on shares of Nuwellis in a research note on Tuesday, August 13th. Roth Capital raised Nuwellis to a “strong-buy” rating in a report on Monday, July 29th.

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.