ReShape Lifesciences Stock Set to Reverse Split on Monday, September 23rd (NASDAQ:RSLS)

ReShape Lifesciences Inc. (NASDAQ:RSLS) shares are set to reverse split on the morning of Monday, September 23rd. The 1-58 reverse split was announced on Thursday, September 19th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, September 20th.

ReShape Lifesciences Price Performance

NASDAQ:RSLS traded down $0.03 during mid-day trading on Thursday, reaching $0.12. 3,117,092 shares of the company’s stock were exchanged, compared to its average volume of 2,681,684. ReShape Lifesciences has a one year low of $0.12 and a one year high of $0.68. The business’s fifty day simple moving average is $0.18 and its two-hundred day simple moving average is $0.18.

ReShape Lifesciences (NASDAQ:RSLS) last announced its earnings results on Wednesday, August 14th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter. ReShape Lifesciences had a negative return on equity of 208.37% and a negative net margin of 112.11%. The business had revenue of $1.97 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Maxim Group reiterated a “hold” rating on shares of ReShape Lifesciences in a research report on Wednesday, July 17th.

ReShape Lifesciences Company Profile

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.