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

StockNews.com initiated coverage on shares of BIOLASE (NASDAQ:BIOL) in a research note issued on Saturday. The brokerage set a “sell” rating on the medical technology company’s stock.

A number of other research firms have also recently weighed in on BIOL. Benchmark restated a “speculative buy” rating and set a $0.40 target price on shares of BIOLASE in a research note on Wednesday, October 2nd. Ascendiant Capital Markets dropped their price objective on BIOLASE from $3.50 to $2.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd.

BIOLASE Stock Down 72.0 %

NASDAQ BIOL opened at $0.02 on Friday. BIOLASE has a 52 week low of $0.02 and a 52 week high of $1.94. The company has a market capitalization of $581,281.80, a P/E ratio of 0.00 and a beta of 0.67. The stock’s 50-day moving average price is $0.05 and its 200-day moving average price is $0.10.

BIOLASE (NASDAQ:BIOL) last released its 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 firm had revenue of $11.56 million during the quarter.

Hedge Funds Weigh In On BIOLASE

An institutional investor recently raised its position in BIOLASE stock. Virtu Financial LLC boosted its stake in BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing. 8.79% of the stock is currently owned by hedge funds and other institutional investors.

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.