Why Is Nuwellis (NUWE) Stock Down Today?

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Nuwellis (NASDAQ:NUWE) stock is taking a beating on Monday despite a lack of news concerning the medical device company.

In fact, there’s really not much in the way of anything to report about Nuwellis stock today. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is down. The same is true for analyst coverage of the shares.

On that same note, there’s no unusual trading of NUWE stock on Monday morning. As of this writing, about 20,000 shares have changed hands. That’s still a far way off from the company’s daily average trading volume of about 276,000 shares.

What to Know About NUWE Stock

Nuwellis is a medical device company that focuses on ultrafiltration therapy. This has it developing, manufacturing, and commercializing products that are used for these applications. Among these are its Aquadex FlexFlow and Aquadex SmartFlow systems.

The company was founded in 1999 and previously operated under the name CHF Solutions. It changed to the Nuwellis name in April 2021. Nuwellis operates out of its headquarters in Eden Prairie, Minn., and currently has about 70 employees.

Investors will also note that NUWE is a penny stock. This comes from its low price of $1.92 and market capitalization of $3.579 million. This may help explain some of its volatility today.

NUWE stock is down 3.2% as of Monday morning.

Investors can find more of the most recent stock market news down below!

We’re offering up all of the hottest stock market news worth reading about on Monday! That includes why shares of Tenon Medical (NASDAQ:TNON) stock, Versus Systems (NASDAQ:VS) stock, and Crinetics Pharmaceuticals (NASDAQ:CRNX) stock are on the move today. All of that news is ready to go at the links below!

More Stock Market News for Monday

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Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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