Nuwellis (NUWE) stock underwent a massive rally on Tuesday without any clear news from the medical device company. There are no press releases or filings with the Securities and Exchange Commission (SEC) that would act as a catalyst for today’s movement.
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Instead, today’s rally can be attributed to a combination of factors concerning shares of NUWE. First off, investors will note that Nuwellis stock has a float of just 1.54 million shares. Second is the stock’s trading activity today, which is incredibly high. As of this writing, more than 70 million shares of NUWE have changed hands. The low float combined with the heavy trading explain why the stock rallied today.
Investors will also note that Nuwellis stock’s trading activity today is well above its norm. The stocks’ three-month daily average trading volume is about 289,000 shares.
Nuwellis Stock Movement Today
Nuwellis stock was up 102.33% in pre-market trading on Tuesday, following a 3.15% fall yesterday. The stock has also rallied 23.56% year-to-date but was down 95.59% over the past 12 months.
Looking at Nuwellis stocks’ recent activity, investors will want to be careful about taking a stake in the company. The stock is incredibly volatile and could easily give up today’s gains, leaving some unfortunate traders holding the bag. The lack of company news is another concern when considering an investment in the company.
Is Nuwellis Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nuwellis is Hold, based on a single Hold rating over the past three months. With that comes an average NUWE stock price target of $3.90, representing a potential 81.4% upside for the shares.
