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

ReShape Lifesciences Inc. (NASDAQ:RSLS)’s stock is scheduled to reverse split on 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 market closes on Friday, September 20th.

ReShape Lifesciences Trading Down 20.2 %

Shares of NASDAQ RSLS traded down $0.03 during trading on Thursday, reaching $0.12. The stock had a trading volume of 3,117,092 shares, compared to its average volume of 2,681,684. ReShape Lifesciences has a fifty-two week low of $0.12 and a fifty-two week high of $0.68. The business’s 50-day moving average price is $0.18 and its 200-day moving average price is $0.18.

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

Wall Street Analyst Weigh In

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

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.