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

StockNews.com started coverage on shares of BIOLASE (NASDAQ:BIOL) in a report published on Saturday morning. The brokerage issued a sell rating on the medical technology company’s stock.

Other analysts also recently issued reports about the stock. Ascendiant Capital Markets cut their price objective 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. Benchmark reiterated a “speculative buy” rating and issued a $0.40 price objective on shares of BIOLASE in a research report on Wednesday, October 2nd.

BIOLASE Stock Performance

NASDAQ BIOL opened at $0.01 on Friday. BIOLASE has a one year low of $0.02 and a one year high of $1.94. The company has a 50-day simple moving average of $0.05 and a 200-day simple moving average of $0.10. The firm has a market capitalization of $334,070.00, a PE ratio of 0.00 and a beta of 0.67.

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

Hedge Funds Weigh In On BIOLASE

A hedge fund recently raised its stake in BIOLASE stock. Virtu Financial LLC increased its position in BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,537 shares of the medical technology company’s stock after buying 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.