Reshape Lifesciences (RSLS) Sees Strong Trading Volume

Reshape Lifesciences Inc (NASDAQ:RSLS) shares saw unusually-high trading volume on Friday . Approximately 55,835,301 shares were traded during mid-day trading, an increase of 7,180% from the previous session’s volume of 766,994 shares.The stock last traded at $0.09 and had previously closed at $0.07.

RSLS has been the topic of several research analyst reports. ValuEngine raised Reshape Lifesciences from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. LADENBURG THALM/SH SH lowered Reshape Lifesciences from a “buy” rating to a “neutral” rating in a research note on Friday, August 3rd. Finally, Zacks Investment Research raised Reshape Lifesciences from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research note on Wednesday, May 16th.

Reshape Lifesciences (NASDAQ:RSLS) last released its quarterly earnings data on Monday, May 14th. The medical device company reported ($5.40) earnings per share for the quarter. The business had revenue of $0.95 million during the quarter. Reshape Lifesciences had a negative net margin of 1,715.25% and a negative return on equity of 69.19%. equities research analysts forecast that Reshape Lifesciences Inc will post -2.64 earnings per share for the current fiscal year.

About Reshape Lifesciences

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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