Obalon Therapeutics (NASDAQ:OBLN) released its earnings results on Friday. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08), MarketWatch Earnings reports. The business had revenue of $2.04 million for the quarter, compared to the consensus estimate of $2.10 million. Obalon Therapeutics had a negative net margin of 178.84% and a negative return on equity of 80.38%.
Shares of OBLN traded down $0.22 during mid-day trading on Friday, reaching $1.96. 118,897 shares of the company’s stock traded hands, compared to its average volume of 47,411. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.58 and a current ratio of 4.85. The stock has a market cap of $51.26 million, a price-to-earnings ratio of -0.94 and a beta of -0.98. Obalon Therapeutics has a 12 month low of $1.46 and a 12 month high of $4.50.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc boosted its holdings in shares of Obalon Therapeutics by 1.6% in the third quarter. Vanguard Group Inc now owns 444,050 shares of the company’s stock valued at $1,199,000 after purchasing an additional 6,900 shares during the period. Hoylecohen LLC boosted its holdings in shares of Obalon Therapeutics by 469.0% in the third quarter. Hoylecohen LLC now owns 114,650 shares of the company’s stock valued at $310,000 after purchasing an additional 94,500 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Obalon Therapeutics by 43.2% in the third quarter. Renaissance Technologies LLC now owns 81,200 shares of the company’s stock valued at $219,000 after purchasing an additional 24,500 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of Obalon Therapeutics in the third quarter valued at approximately $210,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Obalon Therapeutics in the fourth quarter valued at approximately $137,000. Hedge funds and other institutional investors own 30.26% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece of content was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://www.com-unik.info/2019/02/23/obalon-therapeutics-obln-releases-earnings-results-misses-estimates-by-0-08-eps.html.
About Obalon Therapeutics
Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. It offers the Obalon balloon system designed to provide weight loss in obese patients. Obalon Therapeutics, Inc was founded in 2008 and is headquartered in Carlsbad, California.
Further Reading: What is a Candlestick Chart?
Receive News & Ratings for Obalon Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obalon Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.