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

ReShape Lifesciences Inc. (NASDAQ:RSLS) shares are going to reverse split before the market opens 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 closing bell on Friday, September 20th.

ReShape Lifesciences Stock Down 20.2 %

Shares of NASDAQ RSLS traded down $0.03 during midday trading on Thursday, reaching $0.12. 3,117,092 shares of the stock were exchanged, compared to its average volume of 2,681,684. The company has a 50 day simple moving average of $0.18 and a 200 day simple moving average of $0.18. ReShape Lifesciences has a twelve month low of $0.12 and a twelve month high of $0.68.

ReShape Lifesciences (NASDAQ:RSLS) last posted 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.

Analysts Set New Price Targets

Separately, Maxim Group reaffirmed a “hold” rating on shares of ReShape Lifesciences in a research 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.