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

StockNews.com started coverage on shares of BIOLASE (NASDAQ:BIOL) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the medical technology company’s stock.

BIOLASE Price Performance

Shares of BIOLASE stock opened at $0.15 on Thursday. BIOLASE has a fifty-two week low of $0.13 and a fifty-two week high of $47.10. The company has a market cap of $4.78 million, a PE ratio of 0.00 and a beta of 0.67. The company has a debt-to-equity ratio of 34.06, a current ratio of 1.26 and a quick ratio of 0.68. The firm has a fifty day moving average price of $0.17 and a two-hundred day moving average price of $0.89.

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

Hedge Funds Weigh In On BIOLASE

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased 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 worth $28,000 after purchasing an additional 24,211 shares in the last quarter. Walleye Capital LLC acquired a new stake in BIOLASE in the 2nd quarter valued at about $100,000. Citadel Advisors LLC acquired a new stake in BIOLASE in the 2nd quarter valued at about $118,000. Finally, State Street Corp boosted its stake in shares of 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 purchasing an additional 18,682 shares during the last quarter. Institutional investors and hedge funds 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.