BIOLASE (NASDAQ:BIOL) Receives “Speculative Buy” Rating from Benchmark

BIOLASE (NASDAQ:BIOL)‘s stock had its “speculative buy” rating reaffirmed by analysts at Benchmark in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $0.40 target price on the medical technology company’s stock.

A number of other research analysts have also commented on the stock. Ascendiant Capital Markets lowered their price objective on shares of BIOLASE from $3.50 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. StockNews.com started coverage on BIOLASE in a report on Wednesday, September 25th. They set a “sell” rating on the stock.

BIOLASE Price Performance

BIOL stock traded down $0.02 on Wednesday, reaching $0.04. The company’s stock had a trading volume of 1,071,045 shares, compared to its average volume of 2,563,868. BIOLASE has a 52 week low of $0.04 and a 52 week high of $1.94. The company has a market capitalization of $1.25 million, a P/E ratio of 0.00 and a beta of 0.66. The firm has a fifty day moving average of $0.06 and a two-hundred day moving average of $0.11.

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. The company had revenue of $11.56 million during the quarter. BIOLASE had a negative return on equity of 1,782.73% and a negative net margin of 41.65%.

Institutional Investors 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 disclosure with the Securities & 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 at the end of the most recent quarter. 8.79% of the stock is currently owned by hedge funds and other 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.