ReShape Lifesciences (NASDAQ:RSLS) Share Price Crosses Above 200 Day Moving Average of $0.20

Shares of ReShape Lifesciences Inc. (NASDAQ:RSLS) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.20 and traded as high as $0.20. ReShape Lifesciences shares last traded at $0.19, with a volume of 582,326 shares changing hands.

ReShape Lifesciences Trading Down 3.2 %

The company has a 50-day moving average price of $0.19 and a two-hundred day moving average price of $0.20.

ReShape Lifesciences (NASDAQ:RSLS) last posted its earnings results on Wednesday, May 15th. The medical device company reported ($0.09) earnings per share 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.

Institutional Inflows and Outflows

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

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.