Nuwellis, Inc. (NASDAQ:NUWE) shares are trending on Wednesday night.
Shares of the Minnesota-based medical technology company climbed 89.97% to $3.59 after the bell on Wednesday.
In the regular session, the stock was down 2.07% at $1.89, according to Benzinga Pro data.
NUWE experienced an exceptionally elevated trading session on Wednesday. Volume reached 11.68 million shares, more than 70.57 times the stock’s average daily volume of 165,510 shares.
Pediatric Push
The stock move followed Nuwellis’ Tuesday announcement that it installed its first Aquadex SmartFlow systems at a leading pediatric hospital in Wisconsin, expanding its footprint in critical care . Aquadex SmartFlow is a device used to remove excess salt and water from patients with fluid overload. It is currently indicated for adult and pediatric patients weighing 20 kilograms or more whose condition hasn’t responded to diuretics.
CEO Mike McCormick said the Wisconsin installation reflects “continued momentum” in the company’s pediatric growth and “increasing clinical adoption” of Aquadex therapy, calling it entry into a key market within the company’s largest customer category. He added that the collaboration allows Nuwellis to establish clinical protocols and workflows to support broader use of the therapy over time.
Revenue Growth Adds Fuel
On Monday, Nuwellis also announced preliminary second-quarter revenue growth of 14% year-over-year, with six-month growth of 20%. The data reported was for the period ended Jun. 30.
Full results are expected to arrive on Aug. 13, the company said.
Trading Metrics, Technical Analysis
Nuwellis has a market capitalization of approximately $963,810. Its stock has traded between a 52-week high of $392.83 and a 52-week low of $1.83.
NUWE’s Relative Strength Index (RSI) stands at 17.56.
Over the past 12 months, the share price has declined by 99.49%.
The small-cap stock of the commercial-stage company is trading close to its lowest price in the past 52 weeks.
NUWE’s long-term downtrend and weak position in the market suggest that the stock could remain under pressure.
According to Benzinga’s Edge Stock Rankings, NUWE’s stock has shown a negative price trend across all time periods.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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