Eargo (NASDAQ:EAR) Shares Down 6.9%


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Eargo, Inc. (NASDAQ:EAR) dropped 6.9% during mid-day trading on Thursday . The company traded as low as $51.00 and last traded at $51.17. Approximately 301 shares traded hands during trading, a decline of 100% from the average daily volume of 280,728 shares. The stock had previously closed at $54.95.

EAR has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Eargo from $53.00 to $60.00 in a report on Wednesday, January 13th. Zacks Investment Research raised Eargo from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Tuesday, February 9th. Five investment analysts have rated the stock with a buy rating, Eargo presently has a consensus rating of “Buy” and a consensus price target of $55.75.

The company’s fifty day moving average price is $55.60.

Eargo (NASDAQ:EAR) last posted its earnings results on Thursday, February 25th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.18). The firm had revenue of $22.38 million during the quarter, compared to analyst estimates of $22.20 million. As a group, analysts predict that Eargo, Inc. will post -0.97 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of EAR. Lazard Asset Management LLC purchased a new position in Eargo in the 4th quarter valued at $45,000. RMR Wealth Builders purchased a new position in Eargo in the 4th quarter valued at $45,000. Citigroup Inc. purchased a new position in Eargo in the 4th quarter valued at $67,000. Strs Ohio purchased a new position in Eargo in the 4th quarter valued at $85,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Eargo in the 4th quarter valued at $202,000.

Eargo Company Profile (NASDAQ:EAR)

Eargo, Inc, a consumer-focused medical device company, develops and sells hearing aids to assist people with hearing loss in the United States. It sells its products through online stores. The company was formerly known as Aria Innovations, Inc and changed its name to Eargo, Inc in November 2014. Eargo, Inc was founded in 2010 and is headquartered in San Jose, California.

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