CapsoVision (NASDAQ:CV) Shares Down 2.2% - Here's What Happened

Key Points

• CapsoVision's stock price fell 2.2% during mid-day trading on Tuesday, closing at $3.56, after trading as low as $3.52.
• The company reported a significant earnings miss, with an EPS of ($2.02), failing to meet analysts' expectations of ($0.11), although revenue was slightly above estimates at $3.32 million.
• Analysts have mixed opinions on the stock; Benchmark initiated coverage with a "speculative buy" rating and $5.00 price target, while Roth Capital set a "buy" rating with a target of $6.00.

CapsoVision, Inc. (NASDAQ:CV - Get Free Report) shares were down 2.2% during trading on Tuesday . The company traded as low as $3.52 and last traded at $3.56. Approximately 19,676 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 26,005 shares. The stock had previously closed at $3.64.

Analysts Set New Price Targets

A number of research analysts have recently commented on CV shares. Benchmark started coverage on CapsoVision in a report on Monday, July 28th. They issued a "speculative buy" rating and a $5.00 price objective on the stock. Roth Capital set a $6.00 price target on CapsoVision and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Wall Street Zen raised CapsoVision to a "hold" rating in a research report on Sunday, July 13th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat.com, CapsoVision has a consensus rating of "Strong Buy" and an average target price of $5.50.

CapsoVision Price Performance

The company has a fifty day simple moving average of $4.05.

CapsoVision (NASDAQ:CV - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($2.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($1.91). The business had revenue of $3.32 million during the quarter, compared to analysts' expectations of $3.20 million.

About CapsoVision

We are a commercial-stage medical technology company that develops advanced imaging and artificial intelligence (“AI”) technologies that are deployed in our capsule endoscopy solutions to identify abnormalities of the gastrointestinal (“GI”) tract for diagnostic and screening purposes. We developed our first capsule endoscope system, currently comprising the CapsoCam Plus single-usecapsule and the CapsoCloud and CapsoView software, to panoramically visualize the small-bowel mucosa to investigate abnormalities such as obscure GI bleeding and Crohn's disease.