ReShape Lifesciences Inc. (NASDAQ:RSLS) finished Friday with a subtraction of -$0.1 to close at $0.34, a downside of -23.18 percent. An average of 1,644,400 shares of common stock have been traded in the last five days. There was a fall of -$0.2500 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 484,135 shares traded, while the 50-day average volume stands at 224,914.
RSLS stock has decreased by -64.97% in the last month. The company shares reached their 1-month lowest point of $0.2100 on 09/29/23. With the stock rallying to its 52-week high on 02/03/23, shares of the company touched a low of $0.41 and a high of $22.40 in 52 weeks. It has reached a new high 2 times so far this year and lost -94.99% or -$6.4000 in price. In spite of this, the price is down -98.49% from the 52-week high.
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Insider Transactions
RSLS stock investors should be aware that ReShape Lifesciences Inc. (RSLS) stock had its last reported insider trading activity 86 days ago on Jul 06. In this transaction, the insider spent $156. Chief Financial Officer, STANKOVICH THOMAS, disposed of 98 shares at a price of $2.41 on May 31. The insider now owns more than $236 worth of shares. Prior to that, Chief Financial Officer STANKOVICH THOMAS went on to Sale 96 shares at $2.36 each on Apr 30. An amount of $227 was transacted.
Valuation Metrics
ReShape Lifesciences Inc. (RSLS) stock’s beta is -0.03. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.11, the price-to-book (PB) ratio at 0.17.
Financial Health
The quick ratio of ReShape Lifesciences Inc. for the three months ended June 29 was 1.65, and the current ratio was 2.39, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.03 and a total debt to equity ratio of 0.05 for the quarter ending June 29. Its gross profit as reported stood at $6.8 million compared to revenue of $11.24 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, ReShape Lifesciences Inc.’s return on assets was -128.60%.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$3.49 million in the quarter, while revenues of -$2.66 million were shrunk -174.5%. The analyst consensus anticipated ReShape Lifesciences Inc.’s latest quarter earnings to come in at -$1.79 per share, but it turned out to be -$1.08, a 39.70% surprise. For the quarter, EBITDA amounted to -$3.93 million. Shareholders own equity worth $3.45 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at ReShape Lifesciences Inc. (RSLS) price momentum. RSI 9-day as of the close on 29 September was 8.79%, suggesting the stock is oversold, with historical volatility in this time frame at 126.92%.
As of today, RSLS’s price is $0.5003 -42.37% or -$0.2500 from its 5-day moving average. RSLS is currently trading -63.44% lower than its 20-day SMA and -86.01% lower than its 100-day SMA. However, the stock’s current price level is -76.39% below the SMA50 and -95.73% below the SMA200.
The stochastic %K and %D were 9.13% and 5.97%, respectively, and the average true range (ATR) was 0.1187. With the 14-day stochastic at 19.15% and the average true range at 0.1106, the RSI (14) stands at 12.11%. The stock has reached -0.1255 on the 9-day MACD Oscillator while the 14-day reading was at -0.1942.
Analyst Ratings
The consensus rating for ReShape Lifesciences Inc. (RSLS) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RSLS, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is RSLS’s price target for the next 12 months?
Analysts predict a range of price targets between $4.00 and $4.00, with a median target of $4.00. Taking a look at these predictions, the average price target given by analysts for ReShape Lifesciences Inc. (RSLS) stock is $4.00.
