ReShape Lifesciences Inc. (NASDAQ: RSLS) Is Under Pressure Due To Weak Fundamental Momentum.

In the latest trading session, 0.62 million ReShape Lifesciences Inc. (NASDAQ:RSLS) shares changed hands as the company’s beta touched -0.02. With the company’s most recent per share price at $0.22 changed hands at -$0.01 or -4.39% at last look, the market valuation stands at $2.89M. RSLS’s current price is a discount, trading about -10081.82% off its 52-week high of $22.40. The share price had its 52-week low at $0.19, which suggests the last value was 13.64% up since then. When we look at ReShape Lifesciences Inc.’s average trading volume, we note the 10-day average is 0.71 million shares, with the 3-month average coming to 3.24 million.

Analysts gave the ReShape Lifesciences Inc. (RSLS) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended RSLS as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. ReShape Lifesciences Inc.’s EPS for the current quarter is expected to be -$0.72.

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ReShape Lifesciences Inc. (NASDAQ:RSLS) trade information

Instantly RSLS was in red as seen in intraday trades today. With action -7.41%, the performance over the past five days has been red. The drop to weekly highs of 0.2590 on Monday, 11/20/23 subtracted -4.39% to the stock’s daily price. The company’s shares are showing year-to-date downside of -96.74%, with the 5-day performance at -7.41% in the red. However, in the 30-day time frame, ReShape Lifesciences Inc. (NASDAQ:RSLS) is 13.99% up. Looking at the short shares, we see there were 1.67 million shares sold at short interest cover period of 0.19 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.00, meaning bulls need an upside of 94.5% from its recent market value. According to analyst projections, RSLS’s forecast low is $4.00 with $4.00 as the target high. To hit the forecast high, the stock’s price needs a -1718.18% plunge from its current level, while the stock would need to soar -1718.18% for it to hit the projected low.

ReShape Lifesciences Inc. (RSLS) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for ReShape Lifesciences Inc. will rise 91.60%, while the growth in revenue is estimated to hit 49.40% for the next quarter. Year-over-year growth is forecast to reach -14.20% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $2.7 million. 1 analysts are of the opinion that ReShape Lifesciences Inc.’s revenue for the quarter ending Mar 2024 will be $2.52 million. The company’s revenue for the corresponding quarters a year ago was $3.11 million and $2.29 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -13.20%. The estimates for the next quarter sales put growth at 10.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 48.88%.

RSLS Dividends

ReShape Lifesciences Inc. is expected to release its next quarterly earnings report on November 08.

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

If we look at who the major shareholders are, we find that insiders hold 5.68% of ReShape Lifesciences Inc. shares while 5.75% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 6.09%. There are 5.75% institutions holding the ReShape Lifesciences Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 1.44% of the shares, roughly 49874.0 RSLS shares worth $73813.0.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 0.99% or 34060.0 shares worth $50408.0 as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 49874.0 shares estimated at $73813.0 under it, the former controlled 1.44% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.05% of the shares, roughly 1733.0 shares worth around $4193.0.

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