ReShape Lifesciences Inc. (NASDAQ:RSLS) Short Interest Update

ReShape Lifesciences Inc. (NASDAQ:RSLS) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totalling 1,720,000 shares, an increase of 272.0% from the June 30th total of 462,400 shares. Based on an average daily trading volume, of 6,270,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 6.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

ReShape Lifesciences Trading Up 3.7 %

RSLS traded up $0.01 on Thursday, reaching $0.21. The company had a trading volume of 240,585 shares, compared to its average volume of 3,281,876. The business has a 50 day simple moving average of $0.21 and a 200 day simple moving average of $0.19. ReShape Lifesciences has a 52-week low of $0.14 and a 52-week high of $1.66.

ReShape Lifesciences (NASDAQ:RSLS) last announced its earnings results on Wednesday, May 15th. The medical device company reported ($0.09) earnings per share for the quarter. The company had revenue of $1.94 million during the quarter. ReShape Lifesciences had a negative net margin of 130.99% and a negative return on equity of 207.78%.

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.