BIOLASE (NASDAQ:BIOL) Coverage Initiated at StockNews.com

StockNews.com assumed 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 equities analysts also recently weighed in on the stock. Benchmark reaffirmed a speculative buy rating and issued a $0.40 price target on shares of BIOLASE in a research note on Tuesday, May 14th. Maxim Group downgraded shares of BIOLASE from a strong-buy rating to a hold rating in a research note on Friday, May 24th.

BIOLASE Trading Down 7.1 %

NASDAQ BIOL opened at $0.07 on Wednesday. BIOLASE has a 1-year low of $0.04 and a 1-year high of $7.10. The company has a market capitalization of $2.38 million, a PE ratio of 0.00 and a beta of 0.71. The firm’s fifty day simple moving average is $0.11 and its 200-day simple moving average is $0.22.

BIOLASE (NASDAQ:BIOL) last posted its quarterly earnings results 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 company 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 grew its holdings in BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 about 0.43% of BIOLASE worth $27,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 8.79% of the company’s stock.

BIOLASE Company Profile

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.