StockNews.com Initiates Coverage on BIOLASE (NASDAQ:BIOL)

Investment analysts at StockNews.com assumed coverage on shares of BIOLASE (NASDAQ:BIOL – Get Rating) in a research report issued on Wednesday. The firm set a “sell” rating on the medical technology company’s stock.

Separately, Benchmark restated a “speculative buy” rating and issued a $2.00 target price on shares of BIOLASE in a report on Wednesday, March 29th.

BIOLASE Stock Performance

BIOL stock opened at $0.08 on Wednesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.75 and a current ratio of 1.68. The stock has a market capitalization of $2.50 million, a price-to-earnings ratio of -0.02 and a beta of 1.33. BIOLASE has a 1 year low of $0.07 and a 1 year high of $5.94. The stock’s fifty day moving average is $0.25 and its two-hundred day moving average is $0.56.

BIOLASE (NASDAQ:BIOL – Get Rating) last released its earnings results on Tuesday, March 28th. The medical technology company reported ($1.28) earnings per share (EPS) for the quarter. The firm had revenue of $14.05 million for the quarter. BIOLASE had a negative return on equity of 244.91% and a negative net margin of 60.92%.

Institutional Trading of BIOLASE

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in BIOLASE by 222.5% in the 1st quarter. Renaissance Technologies LLC now owns 138,848 shares of the medical technology company’s stock valued at $39,000 after buying an additional 95,789 shares in the last quarter. Perkins Capital Management Inc. lifted its holdings in shares of BIOLASE by 5,795.5% in the first quarter. Perkins Capital Management Inc. now owns 2,723,481 shares of the medical technology company’s stock valued at $766,000 after purchasing an additional 2,677,285 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of BIOLASE by 62.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 105,318 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 40,440 shares in the last quarter. Armistice Capital LLC grew its stake in shares of BIOLASE by 8.2% during the 3rd quarter. Armistice Capital LLC now owns 699,000 shares of the medical technology company’s stock worth $1,699,000 after acquiring an additional 52,887 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of BIOLASE in the second quarter valued at $118,000. 20.68% of the stock is currently owned by institutional investors.

BIOLASE Company Profile

(Get Rating)

BIOLASE, Inc is a medical device company, which engages in the developing, manufacturing, marketing and sale of laser systems in dentistry and medicine. It operates through the Waterlase (all-tissue) systems, and Diode (soft-tissue) systems products. The Waterlase systems use a patented combination of water and laser energy to perform procedures using drills, scalpels, and other traditional dental instruments for cutting soft and hard tissue.