BIOLASE (NASDAQ:BIOL) Stock Price Down 8.6%

BIOLASE, Inc. (NASDAQ:BIOL)’s share price fell 8.6% during mid-day trading on Tuesday . The stock traded as low as $0.75 and last traded at $0.97. 23,684,424 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 48,532,617 shares. The stock had previously closed at $1.06.

Separately, Maxim Group raised their target price on BIOLASE from $1.00 to $2.00 and gave the stock a “buy” rating in a report on Tuesday, January 26th.

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.09 and a current ratio of 1.68. The company has a 50-day simple moving average of $1.02 and a two-hundred day simple moving average of $0.49. The stock has a market cap of $141.38 million, a price-to-earnings ratio of -1.48 and a beta of 1.98.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Perkins Capital Management Inc. boosted its stake in shares of BIOLASE by 9.5% during the 4th quarter. Perkins Capital Management Inc. now owns 1,216,250 shares of the medical technology company’s stock worth $507,000 after acquiring an additional 105,250 shares during the period. Invenomic Capital Management LP lifted its position in shares of BIOLASE by 1,103.5% during the 4th quarter. Invenomic Capital Management LP now owns 607,420 shares of the medical technology company’s stock valued at $253,000 after acquiring an additional 556,948 shares during the period. Squarepoint Ops LLC acquired a new position in shares of BIOLASE during the 4th quarter worth $215,000. Virtu Financial LLC raised its holdings in shares of BIOLASE by 1,908.5% during the 3rd quarter. Virtu Financial LLC now owns 269,185 shares of the medical technology company’s stock worth $74,000 after buying an additional 255,783 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of BIOLASE during the 4th quarter worth $82,000. Institutional investors own 5.52% of the company’s stock.

BIOLASE Company Profile (NASDAQ:BIOL)

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, oral surgeons, and other dental specialists to perform a range of minimally invasive dental procedures, such as cosmetic, restorative, and complex surgical applications.

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