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

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

Several other equities research analysts have also recently issued reports on BIOL. Ascendiant Capital Markets lowered 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. Benchmark reaffirmed a speculative buy rating and set a $0.40 target price on shares of BIOLASE in a research note on Monday, August 12th.

BIOLASE Stock Performance

Shares of NASDAQ BIOL opened at $0.07 on Wednesday. The firm has a market cap of $2.25 million, a PE ratio of 0.00 and a beta of 0.66. The firm has a fifty day moving average of $0.06 and a 200 day moving average of $0.11. BIOLASE has a one year low of $0.04 and a one year high of $1.96.

BIOLASE (NASDAQ:BIOL) last issued its quarterly earnings results on Thursday, August 8th. The medical technology company reported ($0.08) EPS for the quarter. The company 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 Inflows and Outflows

An institutional investor recently raised its position in BIOLASE stock. Virtu Financial LLC increased its position in shares of BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 approximately 0.43% of BIOLASE worth $27,000 as of its most recent filing with the Securities and Exchange Commission. 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.