Is Selling Obalon Therapeutics, Inc. (OBLN) Here a Winning Strategy?

May 24, 2018 - By Adrian Erickson

The stock of Obalon Therapeutics, Inc. (NASDAQ:OBLN) hit a new 52-week low and has $2.43 target or 3.00 % below today’s $2.50 share price. The 5 months bearish chart indicates high risk for the $43.87M company. The 1-year low was reported on May, 24 by Barchart.com. If the $2.43 price target is reached, the company will be worth $1.32M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 6.02% or $0.16 during the last trading session, reaching $2.5. About 69,619 shares traded. Obalon Therapeutics, Inc. (NASDAQ:OBLN) has 0.00% since May 24, 2017 and is . It has underperformed by 11.55% the S&P500.

Analysts await Obalon Therapeutics, Inc. (NASDAQ:OBLN) to report earnings on August, 1. They expect $-0.51 earnings per share, down 10.87 % or $0.05 from last year’s $-0.46 per share. After $-0.71 actual earnings per share reported by Obalon Therapeutics, Inc. for the previous quarter, Wall Street now forecasts -28.17 % EPS growth.

More notable recent Obalon Therapeutics, Inc. (NASDAQ:OBLN) news were published by: Benzinga.com which released: “Benzinga’s Daily Biotech Pulse: ASCO Abstracts, Fibrocell, Ispen And More” on May 17, 2018, also Seekingalpha.com with their article: “Obalon Therapeutics’ (OBLN) CEO Andrew Rasdal on Q1 2018 Results – Earnings Call Transcript” published on May 12, 2018, Nasdaq.com published: “Mid-Morning Market Update: Markets Open Higher; NVIDIA Earnings Top Expectations” on May 11, 2018. More interesting news about Obalon Therapeutics, Inc. (NASDAQ:OBLN) were released by: Globenewswire.com and their article: “Obalon Schedules First Quarter 2018 Financial Results Conference Call for May 10, 2018 at 5:00 pm Eastern Time” published on May 04, 2018 as well as Globenewswire.com‘s news article titled: “Obalon Announces Upcoming Conference Presentation” with publication date: May 17, 2018.

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. The company has market cap of $43.87 million. It offers the Obalon balloon system designed to provide weight loss in obese patients. It currently has negative earnings.

Obalon Therapeutics, Inc. (NASDAQ:OBLN) Ratings Chart

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