ReShape Lifesciences (NASDAQ:RSLS) Stock Passes Above 200-Day Moving Average – Here’s Why

ReShape Lifesciences Inc. (NASDAQ:RSLS)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.89 and traded as high as $5.74. ReShape Lifesciences shares last traded at $5.56, with a volume of 70,452 shares traded.

Analyst Upgrades and Downgrades

Separately, Maxim Group reaffirmed a “hold” rating on shares of ReShape Lifesciences in a report on Wednesday, July 17th.

ReShape Lifesciences Price Performance

The stock’s fifty day moving average price is $2.30 and its two-hundred day moving average price is $0.93.

ReShape Lifesciences (NASDAQ:RSLS) last announced its quarterly earnings results on Wednesday, August 14th. The medical device company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $1.97 million for the quarter. ReShape Lifesciences had a negative return on equity of 208.37% and a negative net margin of 112.11%.

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.