BIOLASE (NASDAQ:BIOL) Receives Buy Rating from Lake Street Capital

BIOLASE (NASDAQ:BIOL – Get Rating)‘s stock had its “buy” rating reiterated by stock analysts at Lake Street Capital in a note issued to investors on Friday, Benzinga reports.

A number of other analysts have also commented on the company. Ascendiant Capital Markets lowered their price objective on BIOLASE to $14.00 in a research report on Wednesday, November 16th. Benchmark lowered their price objective on BIOLASE to $7.00 in a research report on Wednesday, November 16th. StockNews.com assumed coverage on BIOLASE in a research report on Friday, January 20th. They set a “sell” rating for the company. Finally, Maxim Group decreased their target price on BIOLASE from $10.00 to $5.00 in a research report on Friday, November 11th.

BIOLASE Price Performance

Shares of BIOLASE stock traded up $0.02 during trading on Friday, reaching $0.58. The company’s stock had a trading volume of 597,933 shares, compared to its average volume of 1,306,238. The stock has a 50-day moving average price of $0.76 and a two-hundred day moving average price of $2.37. The company has a current ratio of 2.46, a quick ratio of 1.27 and a debt-to-equity ratio of 0.92. BIOLASE has a one year low of $0.37 and a one year high of $10.70. The stock has a market capitalization of $4.49 million, a P/E ratio of -0.16 and a beta of 1.42.

BIOLASE (NASDAQ:BIOL – Get Rating) last announced its quarterly earnings data on Thursday, November 10th. The medical technology company reported ($1.10) EPS for the quarter. The firm had revenue of $12.01 million during the quarter. BIOLASE had a negative return on equity of 118.42% and a negative net margin of 51.38%.

Hedge Funds Weigh In On BIOLASE

Several institutional investors have recently modified their holdings of BIOL. Capital Wealth Alliance LLC bought a new position in shares of BIOLASE during the 2nd quarter valued at about $51,000. Armistice Capital LLC lifted its stake in BIOLASE by 8.2% in the 3rd quarter. Armistice Capital LLC now owns 699,000 shares of the medical technology company’s stock valued at $1,699,000 after acquiring an additional 52,887 shares in the last quarter. Essex Investment Management Co. LLC lifted 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 in the last quarter. Citadel Advisors LLC bought a new stake in BIOLASE in the 2nd quarter valued at approximately $118,000. Finally, State Street Corp lifted 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 in the last quarter. 20.68% of the stock is currently owned by institutional investors and hedge funds.

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.