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

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

A number of other research firms have also recently issued reports on BIOL. Benchmark restated a speculative buy rating and set a $0.40 price target on shares of BIOLASE in a report on Tuesday, May 14th. Maxim Group lowered shares of BIOLASE from a strong-buy rating to a hold rating in a research note on Friday, May 24th.

BIOLASE Stock Down 14.6 %

BIOL opened at $0.07 on Tuesday. The stock has a market cap of $2.42 million, a PE ratio of 0.00 and a beta of 0.71. BIOLASE has a twelve month low of $0.04 and a twelve month high of $9.35. The company has a fifty day moving average of $0.12 and a 200-day moving average of $0.26.

BIOLASE (NASDAQ:BIOL) last posted its quarterly earnings data on Monday, May 13th. The medical technology company reported ($0.36) earnings per share for the quarter. BIOLASE had a negative return on equity of 1,782.73% and a negative net margin of 43.56%. The business had revenue of $10.13 million during the quarter.

Hedge Funds Weigh In On BIOLASE

An institutional investor recently raised its position in BIOLASE stock. Virtu Financial LLC raised its holdings in shares of BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% in the first quarter, according to its most recent 13F filing 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 quarter. Virtu Financial LLC owned 0.43% of BIOLASE worth $27,000 as of its most recent SEC filing. 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.