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

ReShape Lifesciences Inc. (NASDAQ:RSLS) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 226,500 shares, a drop of 89.6% from the May 31st total of 2,170,000 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,530,000 shares, the days-to-cover ratio is presently 0.0 days.

ReShape Lifesciences Stock Performance

NASDAQ RSLS traded down $0.01 during mid-day trading on Friday, hitting $0.19. The stock had a trading volume of 653,069 shares, compared to its average volume of 2,175,331. ReShape Lifesciences has a 52-week low of $0.14 and a 52-week high of $1.66. The company has a 50 day simple moving average of $0.19 and a 200 day simple moving average of $0.20.

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

Hedge Funds Weigh In On ReShape Lifesciences

An institutional investor recently bought a new position in ReShape Lifesciences stock. Armistice Capital LLC purchased a new position in shares of ReShape Lifesciences Inc. (NASDAQ:RSLS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC). Institutional investors 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.