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

Stock analysts at StockNews.com assumed coverage on shares of BIOLASE (NASDAQ:BIOL) in a report issued on Friday. The brokerage set a “sell” rating on the medical technology company’s stock.

Several other equities analysts have also recently issued reports on BIOL. Ascendiant Capital Markets lowered their price objective 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 reaffirmed a “speculative buy” rating and issued a $0.40 target price on shares of BIOLASE in a report on Wednesday, October 2nd.

BIOLASE Stock Performance

Shares of NASDAQ:BIOL opened at $0.01 on Friday. The stock has a market capitalization of $414,246.80, a P/E ratio of 0.00 and a beta of 0.67. BIOLASE has a 12-month low of $0.02 and a 12-month high of $1.94. The stock’s 50-day moving average price is $0.05 and its 200-day moving average price is $0.10.

BIOLASE (NASDAQ:BIOL) last announced its earnings results on Thursday, August 8th. The medical technology company reported ($0.08) 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 for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BIOLASE stock. Virtu Financial LLC increased its stake in shares of BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 143,537 shares of the medical technology company’s stock after acquiring 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 quarter. Institutional investors own 8.79% of the company’s stock.

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.