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

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

A number of other research firms have also recently commented on BIOL. Maxim Group cut shares of BIOLASE from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 24th. Benchmark reiterated a “speculative buy” rating and issued a $0.40 target price on shares of BIOLASE in a research note on Tuesday, May 14th.

BIOLASE Price Performance

Shares of BIOLASE stock opened at $0.07 on Wednesday. BIOLASE has a 1 year low of $0.04 and a 1 year high of $7.10. The firm’s 50-day moving average is $0.11 and its two-hundred day moving average is $0.23. The stock has a market cap of $2.34 million, a price-to-earnings ratio of 0.00 and a beta of 0.71.

BIOLASE (NASDAQ:BIOL) last released its quarterly earnings results on Monday, May 13th. The medical technology company reported ($0.36) earnings per share for the quarter. BIOLASE had a negative net margin of 43.56% and a negative return on equity of 1,782.73%. The firm had revenue of $10.13 million during the quarter.

Hedge Funds Weigh In On BIOLASE

A hedge fund recently raised its stake in BIOLASE stock. Virtu Financial LLC boosted its holdings 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. The fund owned 143,537 shares of the medical technology company’s stock after buying an additional 131,248 shares during the quarter. Virtu Financial LLC owned 0.43% of BIOLASE worth $27,000 at the end of the most recent reporting period. 8.79% of the stock is 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.