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

Stock analysts at StockNews.com started coverage on shares of BIOLASE (NASDAQ:BIOL) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the medical technology company’s stock.

A number of other research analysts have also recently commented on BIOL. Benchmark restated a “speculative buy” rating and issued a $0.40 price target on shares of BIOLASE in a research report on Monday, August 12th. Maxim Group downgraded shares of BIOLASE from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 24th. Finally, Ascendiant Capital Markets cut their target price on shares of BIOLASE from $3.50 to $2.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd.

BIOLASE Stock Performance

NASDAQ BIOL opened at $0.06 on Tuesday. The firm has a market capitalization of $1.86 million, a P/E ratio of 0.00 and a beta of 0.66. The firm’s fifty day moving average price is $0.06 and its two-hundred day moving average price is $0.12. BIOLASE has a 1 year low of $0.04 and a 1 year high of $2.26.

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

Hedge Funds Weigh In On BIOLASE

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

About BIOLASE

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.