Reshape Lifesciences (RSLS) Trading Down 14.3%

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Reshape Lifesciences Inc (NASDAQ:RSLS) fell 14.3% during mid-day trading on Wednesday . The company traded as low as $0.06 and last traded at $0.06. 2,475,387 shares changed hands during trading, an increase of 44% from the average session volume of 1,717,973 shares. The stock had previously closed at $0.07.

A number of research firms recently issued reports on RSLS. Zacks Investment Research downgraded shares of Reshape Lifesciences from a “buy” rating to a “sell” rating in a research note on Tuesday, June 12th. ValuEngine raised shares of Reshape Lifesciences from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, LADENBURG THALM/SH SH downgraded shares of Reshape Lifesciences from a “buy” rating to a “neutral” rating in a research note on Friday, August 3rd.

The company has a market cap of $600,000.00, a PE ratio of 0.00 and a beta of 1.91.

Reshape Lifesciences (NASDAQ:RSLS) last released its quarterly earnings results on Tuesday, August 14th. The medical device company reported ($4.80) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.79) by ($3.01). The business had revenue of $0.65 million for the quarter. Reshape Lifesciences had a negative net margin of 2,397.35% and a negative return on equity of 70.96%. equities analysts expect that Reshape Lifesciences Inc will post -2.64 EPS for the current year.

Reshape Lifesciences Company Profile (NASDAQ:RSLS)

ReShape Lifesciences Inc, a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders. Its proprietary neuroblocking technology, vBloc Therapy is designed to intermittently block the vagus nerve using electrical impulses.

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