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

Analysts at StockNews.com assumed coverage on shares of BIOLASE (NASDAQ:BIOL – Get Rating) in a note issued to investors on Monday. The brokerage set a “sell” rating on the medical technology company’s stock.

Several other research analysts have also weighed in on BIOL. Lake Street Capital reaffirmed a “buy” rating on shares of BIOLASE in a research note on Friday, January 20th. Ascendiant Capital Markets reduced their price target on shares of BIOLASE to $14.00 in a research report on Wednesday, November 16th. Finally, Benchmark reduced their price target on shares of BIOLASE to $7.00 in a research report on Wednesday, November 16th.

BIOLASE Price Performance

BIOLASE stock opened at $0.43 on Monday. The company has a quick ratio of 1.27, a current ratio of 2.46 and a debt-to-equity ratio of 0.92. BIOLASE has a 52-week low of $0.37 and a 52-week high of $9.87. The company has a fifty day simple moving average of $0.53 and a 200-day simple moving average of $1.46. The firm has a market capitalization of $3.30 million, a price-to-earnings ratio of -0.12 and a beta of 1.40.

Institutional Trading of BIOLASE

Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in BIOLASE in the second quarter valued at approximately $118,000. Renaissance Technologies LLC grew its position in shares of BIOLASE by 128.5% during the fourth quarter. Renaissance Technologies LLC now owns 43,059 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 24,211 shares during the last quarter. Capital Wealth Alliance LLC purchased a new position in shares of BIOLASE during the second quarter worth approximately $51,000. Essex Investment Management Co. LLC grew its position in shares of BIOLASE by 62.3% during the third 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 during the last quarter. Finally, Perkins Capital Management Inc. grew its position in shares of BIOLASE by 11.6% during the third quarter. Perkins Capital Management Inc. now owns 132,070 shares of the medical technology company’s stock worth $321,000 after acquiring an additional 13,770 shares during the last quarter. Institutional investors and hedge funds own 20.68% of the company’s stock.

About BIOLASE

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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.