Boom Or Bust: Where Does ReShape Lifesciences Inc. (NASDAQ: RSLS) Stock Go From Here?

During the last session, ReShape Lifesciences Inc. (NASDAQ:RSLS)’s traded shares were 1.86 million, with the beta value of the company hitting 0.32. The 52-week high for the RSLS share is $4.10, that puts it down -2311.76 from that peak though still a striking 17.65% gain since the share price plummeted to a 52-week low of $0.14. The company’s market capitalization is $4.11M, and the average intraday trading volume over the past 10 days was 0.64 million shares, and the average trade volume was 837.25K shares over the past three months.

ReShape Lifesciences Inc. (NASDAQ:RSLS) trade information

ReShape Lifesciences Inc. (RSLS) registered a 3.67% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 3.67% in intraday trading to $0.17, hitting a weekly high. The stock’s 5-day price performance is -3.85%, and it has moved by 6.77% in 30 days. Based on these gigs, the overall price performance for the year is -93.19%. The short interest in ReShape Lifesciences Inc. (NASDAQ:RSLS) is 0.43 million shares and it means that shorts have 0.64 day(s) to cover.

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ReShape Lifesciences Inc. (RSLS) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 97.90% this quarter and then jump 89.70% in the quarter after that. In the rating firms’ projections, revenue will decrease -22.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.98 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $2.1 million by the end of Mar 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $3.11 million and $2.29 million respectively. In this case, analysts expect current quarter sales to shrink by -36.30% and then drop by -8.20% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 76.96%.

RSLS Dividends

ReShape Lifesciences Inc. is due to release its next quarterly earnings between April 15 and April 19. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

ReShape Lifesciences Inc. insiders own 11.16% of total outstanding shares while institutional holders control 1.97%, with the float percentage being 2.21%. Vanguard Group Inc is the largest shareholder of the company, while 17 institutions own stock in it. As of Jun 29, 2023, the company held over 49874.0 shares (or 1.44% of all shares), a total value of $73813.0 in shares.

The next largest institutional holding, with 34060.0 shares, is of Blackrock Inc.’s that is approximately 0.99% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $50408.0.

Also, the Mutual Funds coming in first place with the largest holdings of ReShape Lifesciences Inc. (RSLS) shares are Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Extended Market Index Fund owns about 49874.0 shares. This amounts to just over 1.44 percent of the company’s overall shares, with a $73813.0 market value. The same data shows that the other fund manager holds slightly less at 1733.0, or about 0.05% of the stock, which is worth about $4193.0.