Armistice Capital LLC recently announced the acquisition of new stake in ReShape Lifesciences Inc. (NASDAQ:RSLS). This fresh investment now brings its stake to 1.50% valued currently at $46248.0. In addition, Baader Bank AG raised its holdings by 42050.0 to 42050.0 shares. And Gesalcalá SA SGIIC has lifted its position by 44.79% or 8048.0 shares – to 26018.0 shares.
With over 18.39 million ReShape Lifesciences Inc. (RSLS) shares trading Tuesday and a closing price of $0.25 on the day, the dollar volume was approximately $4.6 million. The shares have shown a negative half year performance of -89.41% and its price on 12/12/23 gained nearly 3.33%. Currently, there are 13.14M common shares owned by the public and among those 12.96M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for RSLS have a consensus price objective of $1.00. The analysts have set the share’s price value over the next 12 months at a high of $1.00 and a low of $1.00. The average price target is 75.0% above its recent price level and an upside to the estimated low will see the stock gain 75.0% over that period. But an upside of 75.0% will see the stock hit the forecast high price target while median target price for the stock is $1.00.
Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 17,702 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 1,262 shares.
The top 3 mutual fund holders in ReShape Lifesciences Inc. are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Alcala Multigestion FI – Garp. Vanguard Extended Market Index Fu owns 49874.0 shares of the company’s stock, all valued at over $12269.0. Alcala Multigestion FI – Garp bought 4024.0 shares to bring its total holdings to over 12997.0 shares at a value of $3197.0. Alcala Multigestion FI – Garp now owns shares totaling to 0.10% of the shares outstanding.
The company’s stock has a 5-day price change of 3.29% and -66.97% over the past three months. RSLS shares are trading -96.28% year to date (YTD), with the 12-month market performance down to -96.42% lower. It has a 12-month low price of $0.19 and touched a high of $22.40 over the same period. RSLS has an average intraday trading volume of 3.56 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.91%, -1.67%, and -84.20% respectively.
Institutional ownership of ReShape Lifesciences Inc. (NASDAQ: RSLS) shares accounts for 3.27% of the company’s 13.14M shares outstanding. Mutual fund holders own 0.75%, while other institutional holders and individual stakeholders account for 2.67% and 0.18% respectively.
It has a market capitalization of $3.30M and a beta (3y monthly) value of 0.17. The earnings-per-share (ttm) stands at -$39.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 14.79% over the week and 12.25% over the month.
Analysts forecast that ReShape Lifesciences Inc. (RSLS) will achieve an EPS of -$0.18 for the current quarter, -$0.16 for the next quarter and -$0.45 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was -$8.59 a year ago. Earnings per share for the fiscal year are expected to increase by 96.47%, and 88.28% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate ReShape Lifesciences Inc. (RSLS) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
