BIOLASE, Inc. (NASDAQ:BIOL) traded down 10.6% on Thursday . The company traded as low as $0.40 and last traded at $0.42. 19,725,182 shares changed hands during trading, an increase of 250% from the average session volume of 5,629,322 shares. The stock had previously closed at $0.47.
Several equities analysts have recently issued reports on BIOL shares. Zacks Investment Research lowered shares of BIOLASE from a “buy” rating to a “sell” rating in a report on Wednesday, October 14th. Maxim Group assumed coverage on BIOLASE in a research note on Wednesday, October 14th. They issued a “buy” rating and a $1.00 target price for the company.
The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.09 and a current ratio of 1.68. The business has a 50 day moving average of $0.32 and a 200-day moving average of $0.35.
A number of hedge funds and other institutional investors have recently made changes to their positions in BIOL. Virtu Financial LLC raised its stake in shares of BIOLASE by 1,908.5% in the 3rd quarter. Virtu Financial LLC now owns 269,185 shares of the medical technology company’s stock valued at $74,000 after purchasing an additional 255,783 shares during the period. Perkins Capital Management Inc. acquired a new position in shares of BIOLASE during the third quarter worth about $306,000. Finally, Jane Street Group LLC bought a new position in shares of BIOLASE during the second quarter worth about $50,000. 5.58% of the stock is owned by hedge funds and other institutional investors.
About BIOLASE (NASDAQ:BIOL)
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, oral surgeons, and other dental specialists to perform a range of minimally invasive dental procedures, such as cosmetic, restorative, and complex surgical applications.
Receive News & Ratings for BIOLASE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIOLASE and related companies with MarketBeat.com's FREE daily email newsletter.