Reshape Lifesciences (RSLS) Stock Price Up 14.3%

Reshape Lifesciences Inc (NASDAQ:RSLS) shares rose 14.3% during trading on Monday . The stock traded as high as $0.08 and last traded at $0.08. Approximately 10,154,326 shares traded hands during mid-day trading, an increase of 577% from the average daily volume of 1,499,111 shares. The stock had previously closed at $0.07.

RSLS has been the subject of several research reports. Zacks Investment Research upgraded Reshape Lifesciences from a “hold” rating to a “buy” rating and set a $11.25 target price for the company in a research report on Thursday, April 26th. ValuEngine upgraded Reshape Lifesciences from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, LADENBURG THALM/SH SH lowered Reshape Lifesciences from a “buy” rating to a “neutral” rating in a research report on Friday, August 3rd.

The stock has a market capitalization of $610,000.00, a P/E ratio of 0.00 and a beta of 2.20.

Reshape Lifesciences (NASDAQ:RSLS) last released its quarterly earnings data 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). Reshape Lifesciences had a negative net margin of 1,715.25% and a negative return on equity of 69.19%. The company had revenue of $0.65 million for the quarter. analysts predict that Reshape Lifesciences Inc will post -2.64 earnings per share for the current year.

About Reshape Lifesciences (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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