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

Investment analysts at StockNews.com began coverage on shares of BIOLASE (NASDAQ:BIOL) in a note issued to investors on Thursday. The firm set a “sell” rating on the medical technology company’s stock.

BIOLASE Price Performance

BIOL opened at $0.15 on Thursday. The company has a 50-day moving average of $0.17 and a 200-day moving average of $0.89. The company has a market capitalization of $4.78 million, a P/E ratio of 0.00 and a beta of 0.67. BIOLASE has a 1-year low of $0.13 and a 1-year high of $47.10. The company has a debt-to-equity ratio of 34.06, a quick ratio of 0.68 and a current ratio of 1.26.

BIOLASE (NASDAQ:BIOL) last released its earnings results on Thursday, March 21st. The medical technology company reported ($1.76) earnings per share for the quarter. The company had revenue of $13.49 million during the quarter. BIOLASE had a negative return on equity of 555.22% and a negative net margin of 41.97%.

Institutional Investors Weigh In On BIOLASE

Institutional investors have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in shares of BIOLASE during the 2nd quarter valued at about $118,000. Renaissance Technologies LLC grew its position in shares of BIOLASE by 128.5% during the 4th quarter. Renaissance Technologies LLC now owns 43,059 shares of the medical technology company’s stock valued at $28,000 after buying an additional 24,211 shares during the last quarter. State Street Corp grew its position in shares of BIOLASE by 4.5% during the 1st quarter. State Street Corp now owns 436,076 shares of the medical technology company’s stock valued at $154,000 after buying an additional 18,682 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of BIOLASE during the 2nd quarter valued at about $100,000. Institutional investors own 8.79% of the company’s stock.

BIOLASE Company Profile

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.