Obalon Therapeutics, Inc. (NASDAQ:OBLN) Sees Significant Increase in Short Interest

Obalon Therapeutics, Inc. (NASDAQ:OBLN) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 354,400 shares, a growth of 26.7% from the March 31st total of 279,700 shares. Based on an average daily volume of 2,590,000 shares, the short-interest ratio is presently 0.1 days.

Separately, Alliance Global Partners raised shares of Obalon Therapeutics from a “neutral” rating to a “buy” rating in a report on Thursday, February 18th.

Shares of NASDAQ:OBLN traded down $0.05 during trading on Tuesday, reaching $2.45. 160,897 shares of the company traded hands, compared to its average volume of 7,675,466. The firm has a market capitalization of $24.55 million, a PE ratio of -1.21 and a beta of -0.69. Obalon Therapeutics has a 52 week low of $0.66 and a 52 week high of $10.77. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $2.95 and its two-hundred day moving average is $2.48.

Obalon Therapeutics (NASDAQ:OBLN) last announced its quarterly earnings data on Thursday, March 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). Obalon Therapeutics had a negative return on equity of 159.14% and a negative net margin of 688.07%. The firm had revenue of $0.06 million for the quarter.

Large investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Obalon Therapeutics during the fourth quarter worth $41,000. Armistice Capital LLC lifted its stake in shares of Obalon Therapeutics by 48.6% in the 4th quarter. Armistice Capital LLC now owns 1,100,000 shares of the company’s stock valued at $1,650,000 after acquiring an additional 360,000 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Obalon Therapeutics during the 4th quarter valued at $205,000. Finally, Morgan Stanley boosted its holdings in shares of Obalon Therapeutics by 44,715.0% during the 3rd quarter. Morgan Stanley now owns 700,010 shares of the company’s stock valued at $637,000 after acquiring an additional 698,448 shares in the last quarter. 28.00% of the stock is owned by institutional investors and hedge funds.

About Obalon Therapeutics

Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat people with obesity. The company offers the Obalon Balloon System designed to provide weight loss in patients with obesity. Its Obalon Balloon System comprises of a swallowable capsule that contains an inflatable balloon attached to a microcatheter; the Obalon Navigation System console, which is a combination of hardware and software used to track and display the location of the balloon during placement; the Obalon Touch Inflation Dispenser, which is a semi-automated, hand-held inflation device used to inflate the balloon once it is placed; and a disposable canister filled with mixture of gas.

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