BIOLASE Inc (NASDAQ:BIOL)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.78 and traded as high as $1.02. BIOLASE shares last traded at $1.02, with a volume of 4,000 shares.
A number of equities analysts have commented on the company. Benchmark assumed coverage on BIOLASE in a research note on Wednesday, June 19th. They set a “speculative buy” rating and a $2.00 price objective on the stock. Ascendiant Capital Markets set a $3.00 price objective on BIOLASE and gave the stock a “buy” rating in a research note on Monday, August 12th. Zacks Investment Research upgraded BIOLASE from a “hold” rating to a “buy” rating and set a $1.50 price objective on the stock in a research note on Thursday, August 15th. Finally, ValuEngine upgraded BIOLASE from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. BIOLASE currently has a consensus rating of “Buy” and a consensus target price of $2.17.
The stock has a 50 day simple moving average of $1.22 and a 200 day simple moving average of $1.78. The company has a current ratio of 2.04, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The stock has a market cap of $22.61 million, a P/E ratio of -1.19 and a beta of 2.18.
BIOLASE (NASDAQ:BIOL) last issued its quarterly earnings results on Thursday, August 8th. The medical technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. BIOLASE had a negative return on equity of 159.26% and a negative net margin of 47.46%. The company had revenue of $8.65 million for the quarter, compared to analyst estimates of $12.76 million. Equities analysts anticipate that BIOLASE Inc will post -0.59 earnings per share for the current year.
In other news, major shareholder Larry N. Feinberg sold 1,000,000 shares of BIOLASE stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $1.50, for a total value of $1,500,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.50% of the company’s stock.
A hedge fund recently raised its stake in BIOLASE stock. BlackRock Inc. grew its holdings in BIOLASE Inc (NASDAQ:BIOL) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 298,875 shares of the medical technology company’s stock after purchasing an additional 9,698 shares during the period. BlackRock Inc. owned approximately 1.40% of BIOLASE worth $440,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 37.80% of the company’s stock.
About BIOLASE (NASDAQ:BIOL)
BIOLASE, Inc, a medical device company, develops, manufactures, markets, and sells laser systems in dentistry and medicine for patients and health care professionals in the worldwide. The company offers Waterlase all-tissue dental laser systems for cutting soft and hard tissues; and diode laser systems to perform soft tissue, pain therapy, and cosmetic procedures, including teeth whitening.
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