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

Research analysts at StockNews.com started coverage on shares of BIOLASE (NASDAQ:BIOLGet Rating) in a research note issued on Thursday. The firm set a “sell” rating on the medical technology company’s stock.

Several other brokerages have also recently weighed in on BIOL. Ascendiant Capital Markets dropped their price objective on BIOLASE to $14.00 in a research note on Wednesday. Benchmark dropped their price objective on BIOLASE to $7.00 in a research note on Wednesday. Finally, Maxim Group dropped their price objective on BIOLASE from $10.00 to $5.00 in a research note on Friday, November 11th.

BIOLASE Price Performance

Shares of NASDAQ:BIOL opened at $1.68 on Thursday. The company has a current ratio of 2.46, a quick ratio of 1.99 and a debt-to-equity ratio of 0.92. The stock’s fifty day simple moving average is $2.21 and its two-hundred day simple moving average is $3.65. BIOLASE has a 1-year low of $1.40 and a 1-year high of $13.83. The stock has a market cap of $12.01 million, a PE ratio of -0.47 and a beta of 1.45.

Institutional Investors Weigh In On BIOLASE

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its stake in shares of BIOLASE by 117.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 101,046 shares of the medical technology company’s stock worth $35,000 after purchasing an additional 54,650 shares during the period. Capital Wealth Alliance LLC bought a new stake in BIOLASE in the 2nd quarter valued at about $51,000. Citadel Advisors LLC bought a new stake in BIOLASE in the 2nd quarter valued at about $118,000. State Street Corp raised its stake in BIOLASE by 4.5% in the 1st quarter. State Street Corp now owns 436,076 shares of the medical technology company’s stock valued at $154,000 after acquiring an additional 18,682 shares during the period. Finally, Essex Investment Management Co. LLC raised its stake in BIOLASE by 62.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 105,318 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 40,440 shares during the period. 21.21% of the stock is currently owned by institutional investors.

BIOLASE Company Profile

(Get Rating)

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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