BIOLASE (NASDAQ:BIOL) Now Covered by Analysts at StockNews.com

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

Several other research firms have also recently issued reports on BIOL. Benchmark reiterated a speculative buy rating and issued a $0.40 price objective on shares of BIOLASE in a research report on Monday, August 12th. Ascendiant Capital Markets cut their price objective on BIOLASE from $3.50 to $2.00 and set a buy rating for the company in a research report on Tuesday, September 3rd.

BIOLASE Stock Performance

BIOL stock opened at $0.07 on Wednesday. The company has a market capitalization of $2.25 million, a P/E ratio of 0.00 and a beta of 0.66. BIOLASE has a twelve month low of $0.04 and a twelve month high of $1.96. The business has a 50 day simple moving average of $0.06 and a 200-day simple moving average of $0.11.

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

Institutional Investors Weigh In On BIOLASE

An institutional investor recently raised its position 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 filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 0.43% of BIOLASE worth $27,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.79% of the company’s stock.

About BIOLASE

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.