Reshape Lifesciences Inc (NASDAQ:RSLS) reached a new 52-week low on Wednesday . The stock traded as low as $1.66 and last traded at $1.64, with a volume of 2485 shares traded. The stock had previously closed at $1.68.

Several equities research analysts have recently weighed in on RSLS shares. Zacks Investment Research raised shares of Reshape Lifesciences from a “hold” rating to a “buy” rating and set a $22.50 target price on the stock in a report on Friday, March 16th. ValuEngine raised shares of Reshape Lifesciences from a “hold” rating to a “buy” rating in a report on Monday, July 2nd.

The firm has a market capitalization of $6.26 million, a price-to-earnings ratio of -0.04 and a beta of 2.47.

Reshape Lifesciences (NASDAQ:RSLS) last posted its earnings results on Monday, May 14th. The medical device company reported ($5.40) earnings per share for the quarter. Reshape Lifesciences had a negative return on equity of 69.19% and a negative net margin of 1,715.25%. The firm had revenue of $0.95 million during the quarter. equities research analysts forecast that Reshape Lifesciences Inc will post -9.15 EPS for the current year.

An institutional investor recently bought a new position in Reshape Lifesciences stock. Anson Funds Management LP acquired a new position in shares of Reshape Lifesciences Inc (NASDAQ:RSLS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 219,016 shares of the medical device company’s stock, valued at approximately $324,000. Anson Funds Management LP owned about 0.73% of Reshape Lifesciences as of its most recent SEC filing.

Reshape Lifesciences Company Profile

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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