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

StockNews.com started coverage on shares of BIOLASE (NASDAQ:BIOL) in a research report issued on Thursday. The brokerage set a “sell” rating on the medical technology company’s stock.

Several other brokerages have also recently issued reports on BIOL. Ascendiant Capital Markets dropped their target price on BIOLASE from $3.50 to $2.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Benchmark restated a “speculative buy” rating and set a $0.40 price objective on shares of BIOLASE in a research note on Wednesday.

BIOLASE Price Performance

NASDAQ:BIOL opened at $0.02 on Thursday. BIOLASE has a 1-year low of $0.02 and a 1-year high of $1.94. The company has a 50-day moving average of $0.06 and a 200 day moving average of $0.11. The firm has a market cap of $579,611.45, a PE ratio of 0.00 and a beta of 0.66.

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. 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 during the quarter.

Institutional Investors Weigh In On BIOLASE

A hedge fund recently raised its stake in BIOLASE stock. Virtu Financial LLC raised its holdings in shares of BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% during the first quarter, according to the company in its most recent disclosure with the Securities and 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 0.43% of BIOLASE worth $27,000 at the end of the most recent quarter. 8.79% of the stock is 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.