BIOLASE (NASDAQ:BIOL) Now Covered by StockNews.com

Research analysts at StockNews.com initiated coverage on shares of BIOLASE (NASDAQ:BIOL – Get Rating) in a report issued on Wednesday. The brokerage set a “sell” rating on the medical technology company’s stock.

Separately, Benchmark restated a “speculative buy” rating and issued a $2.00 target price on shares of BIOLASE in a research report on Wednesday, March 29th.

BIOLASE Stock Down 9.5 %

BIOL opened at $0.14 on Wednesday. BIOLASE has a 12 month low of $0.10 and a 12 month high of $5.94. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.68 and a quick ratio of 0.75. The stock has a market cap of $4.38 million, a P/E ratio of -0.04 and a beta of 1.33. The stock’s 50 day moving average price is $0.26 and its 200 day moving average price is $0.57.

BIOLASE (NASDAQ:BIOL – Get Rating) last posted its earnings results on Tuesday, March 28th. The medical technology company reported ($1.28) EPS for the quarter. BIOLASE had a negative net margin of 60.92% and a negative return on equity of 244.91%. The business had revenue of $14.05 million during the quarter.

Hedge Funds Weigh In On BIOLASE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in 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 purchasing an additional 24,211 shares in the last quarter. Citadel Advisors LLC bought a new position in BIOLASE during the 2nd quarter valued at $118,000. State Street Corp boosted its stake in 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 purchasing an additional 18,682 shares in the last quarter. Essex Investment Management Co. LLC boosted its stake in BIOLASE by 62.3% during 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 purchasing an additional 40,440 shares in the last quarter. Finally, Perkins Capital Management Inc. boosted its stake in shares of BIOLASE by 5,795.5% during the 1st quarter. Perkins Capital Management Inc. now owns 2,723,481 shares of the medical technology company’s stock worth $766,000 after acquiring an additional 2,677,285 shares in the last quarter. 20.68% of the stock is owned by institutional investors.

BIOLASE Company Profile

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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.