Reshape Lifesciences Inc (NASDAQ:RSLS) shares reached a new 52-week low during trading on Thursday . The company traded as low as $1.41 and last traded at $1.53, with a volume of 8571 shares. The stock had previously closed at $1.83.

A number of research firms have commented on RSLS. ValuEngine downgraded Reshape Lifesciences from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised Reshape Lifesciences from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Finally, LADENBURG THALM/SH SH downgraded Reshape Lifesciences from a “buy” rating to a “neutral” rating in a report on Friday, August 3rd.

Reshape Lifesciences (NASDAQ:RSLS) last released its earnings results on Tuesday, August 14th. The medical device company reported ($672.00) EPS for the quarter, missing analysts’ consensus estimates of ($250.60) by ($421.40). Reshape Lifesciences had a negative return on equity of 70.96% and a negative net margin of 2,397.35%. The firm had revenue of $0.65 million for the quarter. Analysts anticipate that Reshape Lifesciences Inc will post -371.83 EPS for the current fiscal year.

An institutional investor recently bought a new position in Reshape Lifesciences stock. Renaissance Technologies LLC bought a new position in shares of Reshape Lifesciences Inc (NASDAQ:RSLS) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,287,729 shares of the medical device company’s stock, valued at approximately $101,000. Renaissance Technologies LLC owned about 3,812.88% of Reshape Lifesciences as of its most recent SEC filing. 5.68% of the stock is owned by institutional investors.

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Reshape Lifesciences Company Profile (NASDAQ:RSLS)

ReShape Lifesciences Inc, a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders. Its proprietary neuroblocking technology, vBloc Therapy is designed to intermittently block the vagus nerve using electrical impulses.

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