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ReShape Lifesciences Inc. (NASDAQ:RSLS) 6.25% Above Its 52-Week Low, But Can It Keep Rising?

In last trading session, ReShape Lifesciences Inc. (NASDAQ:RSLS) saw 1.7 million shares changing hands with its beta currently measuring -0.14. Company’s recent per share price level of $0.16 trading at -$0.01 or -8.10% at ring of the bell on the day assigns it a market valuation of $3.78M. That closing price of RSLS’s stock is at a discount of -1287.5% from its 52-week high price of $2.22 and is indicating a premium of 6.25% from its 52-week low price of $0.15. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.34 million shares which gives us an average trading volume of 181.41K if we extend that period to 3-months.

ReShape Lifesciences Inc. (NASDAQ:RSLS) trade information

Upright in the red during last session for losing -8.10%, in the last five days RSLS remained trading in the red while hitting it’s week-highest on Monday, 11/21/22 when the stock touched $0.16 price level, adding 34.99% to its value on the day. ReShape Lifesciences Inc.’s shares saw a change of -90.25% in year-to-date performance and have moved -27.75% in past 5-day. ReShape Lifesciences Inc. (NASDAQ:RSLS) showed a performance of -48.42% in past 30-days. Number of shares sold short was 0.29 million shares which calculate 1.83 days to cover the short interests.

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Wall Street analysts have assigned a consensus price target of $0.78 to the stock, which implies a rise of 79.49% to its current value. Analysts have been projecting $0.55 as a low price target for the stock while placing it at a high target of $1.00. It follows that stock’s current price would drop -525.0% in reaching the projected high whereas dropping to the targeted low would mean a loss of -243.75% for stock’s current value.

ReShape Lifesciences Inc. (RSLS) estimates and forecasts

The company is estimating its revenue growth to increase by 76.40% in the current quarter and calculating 40.70% increase in the next quarter. This year revenue growth is estimated to fall -1.80% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $3.62 million for the same. And 2 analysts are in estimates of company making revenue of $4.42 million in the next quarter that will end on Dec 2022. Company posted $3.71 million and $3.14 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -2.40% while estimating it to be 40.70% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 32.80% during past 5 years.

RSLS Dividends

ReShape Lifesciences Inc. is more likely to be releasing its next quarterly report between November 09 and November 14 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

ReShape Lifesciences Inc. (NASDAQ:RSLS)’s Major holders

Insiders are in possession of 10.14% of company’s total shares while institution are holding 6.45 percent of that, with stock having share float percentage of 7.18%. Investors also watch the number of corporate investors in a company very closely, which is 6.45% institutions for ReShape Lifesciences Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at RSLS for having 0.5 million shares of worth $0.29 million. And as of Jun 29, 2022, it was holding 2.23% of the company’s outstanding shares.

The second largest institutional holder is Geode Capital Management, LLC, which was holding about 0.3 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 1.32% of outstanding shares, having a total worth of $0.17 million.

On the other hand, Vanguard Total Stock Market Index Fund and Fidelity NASDAQ Composite Index ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 0.41 million shares of worth $0.24 million or 1.82% of the total outstanding shares. The later fund manager was in possession of 0.19 million shares on Sep 29, 2022, making its stake of worth around $56747.0 in the company or a holder of 0.84% of company’s stock.

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