ReShape Lifesciences (NASDAQ:RSLS) Issues Quarterly Earnings Results

ReShape Lifesciences (NASDAQ:RSLS) announced its earnings results on Tuesday. The medical device company reported $18.98 earnings per share for the quarter, Zacks reports. ReShape Lifesciences had a negative return on equity of 179.83% and a negative net margin of 86.36%.

ReShape Lifesciences Stock Down 8.5%

ReShape Lifesciences stock traded down $0.55 during trading hours on Tuesday, hitting $5.92. 53,009 shares of the company traded hands, compared to its average volume of 185,347. ReShape Lifesciences has a 1-year low of $5.53 and a 1-year high of $725.00. The firm has a market cap of $4.37 million, a P/E ratio of -0.02 and a beta of 1.48. The firm’s 50-day simple moving average is $10.96 and its two-hundred day simple moving average is $68.25.

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.