BIOLASE (NASDAQ:BIOL) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of BIOLASE (NASDAQ:BIOL) in a research note issued on Friday. The firm set a “sell” rating on the medical technology company’s stock.

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

BIOLASE Stock Performance

NASDAQ BIOL opened at $0.01 on Friday. BIOLASE has a twelve month low of $0.02 and a twelve month high of $1.94. The stock has a market capitalization of $367,477.00, a PE ratio of 0.00 and a beta of 0.67. The stock has a 50-day simple moving average of $0.05 and a 200 day simple moving average of $0.10.

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

Hedge Funds Weigh In On BIOLASE

An institutional investor recently raised its position in BIOLASE stock. Virtu Financial LLC grew its stake in BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 8.79% of the company’s stock.

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.