Nuwellis Inc logo

Nuwellis Inc(NUWE)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$0.81
09/24/2026
(24-hour delay)

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Upturn Advisory & Investor View for NUWE

09/24/2026: NUWE (1-star) is currently NOT-A-BUY. Pass it for now.

Nuwellis Inc is a small-cap medical device company specializing in fluid management technology, particularly its Aquadex SmartFlow system used for treating fluid overload in acute care settings. The company’s primary growth story centers on increasing hospital adoption of its proprietary ultrafiltration technology as an alternative to traditional diuretic medication. However, Nuwellis faces intense competition from established, large-cap medical device manufacturers and risks associated with limited cash reserves and operational execution. The stock is best suited for investors with a very high risk tolerance who are looking for speculative exposure to the medical technology sector. Key developments to monitor include revenue growth milestones and any strategic partnerships that could provide capital or commercial scale.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorWeak fitThe company's small scale and inconsistent growth profile make it a high-risk venture for typical growth investors.
Momentum investorWeak fitThe stock lacks the consistent trend and volume strength required for a momentum strategy.
Value investorWeak fitCurrent financial losses and negative equity values render traditional value metrics inapplicable.
Dividend investorWeak fitThe company does not pay dividends and focuses on cash preservation.
Low-risk investorWeak fitHigh volatility and operational risks are generally unsuitable for low-risk portfolios.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock is subject to significant price swings due to low float and clinical outcome uncertainty.
Valuation riskHighValuation is often disconnected from fundamentals, driven by speculative market sentiment.
Competition risk (Medical Devices)HighThe company competes with dominant firms that possess larger sales forces and deeper hospital ties.
Business qualityMediumWhile the technology is innovative, the underlying business franchise is still unproven at scale.
Dividend incomeLow / noneNo income potential exists for investors seeking dividends.
Execution riskHighFailure to achieve widespread physician and hospital adoption would significantly threaten the company's future.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Extreme Price Shocks
PRICE STABILITY

Extreme Price Shocks

The stock has experienced exceptionally large and disruptive price movements during the period.

Analysis of Past Performance

Type Stock
Historic Profit -47.73%
Avg. Invested days 5
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 1.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/24/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
NUWE receives a 3-star rating, supported by available scored pillars. The rating is constrained by soft unit economics, and weak price momentum.

Company Fundamentals

★★★★★
NUWE has moderate overall fundamentals (3 stars), with soft financial health, soft growth momentum, and moderate ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-56.9%), soft cash generation (FCF margin -131.8%), negative revenue growth (-5.4%).

Financial Health Rating

★★★★★
NUWE's financial health is supported by solid liquidity, including working-capital and asset support (WC/assets 35.2%). Cash strength is soft (2 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
NUWE's growth profile is soft, with the least-weak measure being revenue growth at -5.4% FY2025 versus FY2024. By comparison, while earnings growth (-56.9%, negative) and free-cash-flow growth (-12.9%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 2.6% and approximately 108.8% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 4.96% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

Armistice Capital, LLC 1.85%
Geode Capital Management, LLC 0.35%
Tower Research Capital LLC 0.04%
Citigroup Inc 0.04%
SBI Securities Co Ltd 0.00%

Unit Economics (Per $1K Revenue)

★★★★★
NUWE generates approximately $620 of gross profit, $-1,343 of operating income, and $-1,318 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: -0.03% (Tax Credit)

Quantitative Style Profile

★★★★★
NUWE has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 2.70M USD
Price to earnings Ratio -
1Y Target Price 11
Price to earnings Ratio -
1Y Target Price 11
Volume (30-day avg) 3.2M shares
Beta 0.23
52 Weeks Range 0.71 - 172.90
Updated Date 09/24/2026
52 Weeks Range 0.71 - 172.90
Updated Date 09/24/2026
Dividends yield (FY) -
Basic EPS (TTM) 2586.7

How Company Makes Money

Business areaWhat it includesRetail investor read
Fluid Management SystemsAquadex SmartFlow consoles and associated disposable sets.The company generates revenue primarily by selling medical hardware and the recurring disposable supplies used with that hardware.
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Valuation

Trailing PE -
Forward PE -
Enterprise Value -1.08M
Price to Sales(TTM) 0.3
Enterprise Value -1.08M
Price to Sales(TTM) 0.3
Enterprise Value to Revenue -
Enterprise Value to EBITDA -0.34
Shares Outstanding 3.18M
Shares Floating 3.45M
Shares Outstanding 3.18M
Shares Floating 3.45M
Percent Insiders 4.96
Percent Institutions 2.59

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Nuwellis Inc

Exchange NASDAQ
Headquarters Eden Prairie, MN, United States
IPO Launch date 2012-02-16
President, CEO & Director Mr. Michael Kendrick McCormick
Sector Healthcare
Industry Medical Devices
Full time employees 38
Full time employees 38

Nuwellis, Inc., a medical device company, develops, manufactures, and commercializes medical devices used in ultrafiltration therapy. The company provides Aquadex FlexFlow and Aquadex SmartFlow systems, which are used to treat patients suffering from fluid overload due to heart failure, as well as Aquadex SmartFlow system for temporary use in adult and pediatric patients. The company was formerly known as CHF Solutions, Inc. and changed its name to Nuwellis, Inc. in April 2021. Nuwellis, Inc. was founded in 1999 and is headquartered in Eden Prairie, Minnesota.