ReShape Lifesciences Inc. (NASDAQ:RSLS) Sees Significant Increase in Short Interest

ReShape Lifesciences Inc. (NASDAQ:RSLS) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 688,700 shares, a growth of 87.6% from the March 15th total of 367,200 shares. Based on an average daily trading volume, of 8,870,000 shares, the short-interest ratio is presently 0.1 days. Approximately 7.5% of the shares of the stock are short sold.

ReShape Lifesciences Stock Down 4.4 %

NASDAQ:RSLS opened at $0.36 on Thursday. The business’s 50-day moving average price is $0.95 and its two-hundred day moving average price is $3.59. The stock has a market cap of $4.09 million, a P/E ratio of -0.03 and a beta of 1.59. ReShape Lifesciences has a twelve month low of $0.30 and a twelve month high of $29.00.

ReShape Lifesciences (NASDAQ:RSLS) last issued its earnings results on Friday, April 4th. The medical device company reported ($1.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.06) by $2.17. ReShape Lifesciences had a negative return on equity of 179.83% and a negative net margin of 86.36%. The business had revenue of $1.81 million during the quarter, compared to analyst estimates of $3.17 million. During the same quarter in the prior year, the firm earned ($110.87) earnings per share.

About ReShape Lifesciences

ReShape Lifesciences Inc provides products and services that manages and treat obesity and metabolic diseases in the United States, Australia, Europe, and internationally. The company's product portfolio includes Lap-Band System, a minimally invasive long-term treatment of severe obesity and more invasive surgical stapling procedures, such as the gastric bypass or sleeve gastrectomy; Lap-Band 2.0 System, an adjustable postoperatively to increase or decrease the pressure to the band in order to optimize an individual's comfort and therapy effectiveness; and ReShape Calibration Tubes, that fits the lesser curvature of the stomach to reach the pylorus.