Eargo Stock Scheduled to Reverse Split on Wednesday, January 18th (NASDAQ:EAR)

Eargo, Inc. (NASDAQ:EAR – Get Rating)’s stock is scheduled to reverse split before the market opens on Wednesday, January 18th. The 1-20 reverse split was announced on Wednesday, January 18th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, January 18th.

Eargo Stock Down 1.2 %

EAR opened at $0.56 on Friday. The business has a 50 day moving average price of $0.58 and a two-hundred day moving average price of $0.96. Eargo has a 52 week low of $0.48 and a 52 week high of $5.84.

Eargo (NASDAQ:EAR – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.70). Eargo had a negative return on equity of 722.21% and a negative net margin of 462.95%. The business had revenue of $7.91 million for the quarter, compared to analyst estimates of $7.10 million. As a group, equities analysts expect that Eargo will post -3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Eargo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Eargo by 955.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 158,260 shares of the company’s stock worth $166,000 after purchasing an additional 143,260 shares during the period. State Street Corp grew its holdings in shares of Eargo by 86.7% in the 3rd quarter. State Street Corp now owns 224,767 shares of the company’s stock worth $236,000 after acquiring an additional 104,400 shares during the period. BlackRock Inc. grew its holdings in shares of Eargo by 16.1% in the 3rd quarter. BlackRock Inc. now owns 602,979 shares of the company’s stock worth $633,000 after acquiring an additional 83,647 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Eargo by 81.4% in the 3rd quarter. Renaissance Technologies LLC now owns 1,053,241 shares of the company’s stock worth $1,106,000 after acquiring an additional 472,641 shares during the period. Finally, Clarius Group LLC acquired a new stake in shares of Eargo in the 3rd quarter worth approximately $29,000.

About Eargo

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Eargo, Inc, a medical device company, engages in enhancing the quality of life of people with hearing loss in the United States. The company markets and sells hearing aids. It sells its products direct-to-consumer and through omni-channel. The company was formerly known as Aria Innovations, Inc and changed its name to Eargo, Inc in November 2014.