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    EAR   US2700871096

EARGO, INC.

(EAR)
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Delayed Nasdaq  -  05/20 04:00:00 pm EDT
1.250 USD   -2.34%
05/13EARGO, INC. Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-K)
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05/13EARGO, INC. Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q)
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05/13EARGO, INC. : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
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Eargo Shares Leap as DOJ Criminal Probe No Longer Active

01/06/2022 | 11:22am EDT

By Colin Kellaher

Eargo Inc. shares surged more than 50% on Thursday after the hearing-aid maker said a criminal investigation by the U.S. Department of Justice related to insurance reimbursement claims is no longer active.

In a filing with the Securities and Exchange Commission, the San Jose, Calif., company said the DOJ's investigation has been referred to the department's civil division and the U.S. Attorney's Office for the Northern District of Texas.

Eargo shares plummeted in September after the company reported that it was the target of a DOJ criminal investigation related to insurance reimbursement claims it submitted on behalf of customers covered under the Federal Employee Health Benefits program.

The company in November said it had received total payments of about $44 million from the government related to claims submitted under the program.

Last month, Eargo said it was cutting its workforce by 25% to 30% in response to declines in customer orders since it announced the investigation.

Eargo on Thursday said it is continuing to cooperate with the probe.

The DOJ's civil division brings suits on behalf of the U.S., primarily to recoup money lost through fraud, loan defaults and the abuse of federal funds, according to the DOJ website.

Shares of Eargo, which hit an all-time low of $4.49 last month, were recently changing hands at $6.86, up 50%. The stock is still almost 90% below its 52-week high of $76.75 reached last February.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

01-06-22 1111ET

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Analyst Recommendations on EARGO, INC.
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Financials (USD)
Sales 2022 98,7 M - -
Net income 2022 - - -
Net cash 2022 147 M - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 49,2 M 49,2 M -
EV / Sales 2022 -0,99x
EV / Sales 2023 -0,86x
Nbr of Employees 257
Free-Float 86,1%
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Technical analysis trends EARGO, INC.
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Last Close Price 1,25 $
Average target price 10,50 $
Spread / Average Target 740%
Managers and Directors
Christian Gormsen President, Chief Executive Officer & Director
Adam Laponis Chief Financial Officer
Joshua Makower Non-Executive Chairman
Daniel Shen Chief Clinical & Science Officer
Fernando Cruz Vice President-Software & Engineering
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