Short Interest in ReShape Lifesciences Inc. (NASDAQ:RSLS) Declines By 89.6%

ReShape Lifesciences Inc. (NASDAQ:RSLS) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 226,500 shares, a decrease of 89.6% from the May 31st total of 2,170,000 shares. Based on an average daily volume of 5,530,000 shares, the short-interest ratio is currently 0.0 days. Approximately 1.1% of the company’s stock are sold short.

Institutional Investors Weigh In On ReShape Lifesciences

A hedge fund recently bought a new stake in ReShape Lifesciences stock. Armistice Capital LLC bought a new position in ReShape Lifesciences Inc. (NASDAQ:RSLS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 188,000 shares of the medical device company’s stock, valued at approximately $64,000. Armistice Capital LLC owned 5.45% of ReShape Lifesciences as of its most recent filing with the Securities and Exchange Commission. 22.06% of the stock is currently owned by institutional investors and hedge funds.

ReShape Lifesciences Trading Down 3.2 %

Shares of NASDAQ RSLS traded down $0.01 during mid-day trading on Friday, reaching $0.19. The company had a trading volume of 653,069 shares, compared to its average volume of 2,175,331. The firm has a 50 day simple moving average of $0.19 and a two-hundred day simple moving average of $0.20. ReShape Lifesciences has a 52-week low of $0.14 and a 52-week high of $1.66.

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

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.