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

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

Other equities analysts have also issued reports about the stock. Ascendiant Capital Markets dropped their price target on shares of BIOLASE from $3.50 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Benchmark reaffirmed a “speculative buy” rating and issued a $0.40 target price on shares of BIOLASE in a research report on Wednesday, October 2nd.

BIOLASE Stock Performance

BIOLASE stock opened at $0.01 on Monday. The stock has a market cap of $185,408.85, a P/E ratio of 0.00 and a beta of 0.67. The company has a fifty day simple moving average of $0.03 and a 200-day simple moving average of $0.08. BIOLASE has a 12-month low of $0.02 and a 12-month high of $1.94.

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

Hedge Funds Weigh In On BIOLASE

A hedge fund recently raised its stake in BIOLASE stock. Virtu Financial LLC boosted its stake 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 firm owned 143,537 shares of the medical technology company’s stock after acquiring 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 Securities and Exchange Commission. 8.79% of the stock is currently owned by institutional investors and hedge funds.

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.