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

StockNews.com began coverage on shares of BIOLASE (NASDAQ:BIOL) in a research report sent to investors on Wednesday morning. The firm issued a sell rating on the medical technology company’s stock.

A number of other analysts have also recently commented on the company. Benchmark reiterated a speculative buy rating and set a $0.40 price objective on shares of BIOLASE in a research report on Monday, August 12th. Ascendiant Capital Markets lowered their price target on shares of BIOLASE from $3.50 to $2.00 and set a buy rating for the company in a report on Tuesday, September 3rd.

BIOLASE Stock Performance

Shares of BIOL opened at $0.07 on Wednesday. The stock’s 50 day moving average is $0.06 and its two-hundred day moving average is $0.11. BIOLASE has a twelve month low of $0.04 and a twelve month high of $1.96. The firm has a market capitalization of $2.25 million, a PE ratio of 0.00 and a beta of 0.66.

BIOLASE (NASDAQ:BIOL) last released its quarterly earnings results 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 return on equity of 1,782.73% and a negative net margin of 41.65%.

Institutional Investors Weigh In On BIOLASE

An institutional investor recently raised its position in BIOLASE stock. Virtu Financial LLC raised its holdings in BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 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.