StockNews.com Initiates Coverage on BIOLASE (NASDAQ:BIOL)

Equities researchers at StockNews.com began coverage on shares of BIOLASE (NASDAQ:BIOL) in a note issued to investors on Monday. The firm set a “sell” rating on the medical technology company’s stock.

Several other equities research analysts also recently issued reports on BIOL. Benchmark restated a “speculative buy” rating and issued a $0.40 price objective on shares of BIOLASE in a research note on Wednesday, October 2nd. Ascendiant Capital Markets cut their price objective on shares of BIOLASE from $3.50 to $2.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd.

BIOLASE Stock Performance

Shares of BIOLASE stock opened at $0.01 on Monday. BIOLASE has a 1-year low of $0.02 and a 1-year high of $1.94. The firm has a fifty day simple moving average of $0.04 and a 200-day simple moving average of $0.09. The stock has a market capitalization of $251,721.75, a price-to-earnings ratio of 0.00 and a beta of 0.67.

BIOLASE (NASDAQ:BIOL) last issued its quarterly earnings results on Thursday, August 8th. The medical technology company reported ($0.08) earnings per share (EPS) for the quarter. BIOLASE had a negative net margin of 41.65% and a negative return on equity of 1,782.73%. The business had revenue of $11.56 million during the quarter.

Hedge Funds Weigh In On BIOLASE

A hedge fund recently raised its stake in BIOLASE stock. Virtu Financial LLC increased its holdings in BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,537 shares of the medical technology company’s stock after purchasing an additional 131,248 shares during the period. Virtu Financial LLC owned approximately 0.43% of BIOLASE worth $27,000 at the end of the most recent quarter. 8.79% of the stock is currently owned by institutional investors.

BIOLASE Company Profile

BIOLASE, Inc, together with its subsidiaries, develops, manufactures, markets, and sells laser systems for dental practitioners and their patients in the United States and internationally. Its dental laser systems allow dentists, periodontists, endodontists, pediatric dentists, oral surgeons, and other dental specialists to perform a range of minimally invasive dental procedures, including cosmetic, restorative, and complex surgical applications.