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

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

A number of other brokerages have also commented on BIOL. Benchmark reaffirmed a “speculative buy” rating and issued a $0.40 price target on shares of BIOLASE in a research note on Wednesday, October 2nd. Ascendiant Capital Markets cut their target price 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.

BIOLASE Price Performance

Shares of NASDAQ BIOL opened at $0.01 on Friday. The company has a market cap of $203,782.70, a price-to-earnings ratio of 0.00 and a beta of 0.67. The firm’s fifty day moving average is $0.04 and its 200 day moving average is $0.09. BIOLASE has a 52 week low of $0.02 and a 52 week high of $1.94.

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

Institutional Trading of 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 Form 13F filing with the SEC. The institutional investor owned 143,537 shares of the medical technology company’s stock after purchasing an additional 131,248 shares during the period. 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 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.