BIOLASE (NASDAQ:BIOL) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of BIOLASE (NASDAQ:BIOL) in a report issued on Thursday morning. The firm issued a sell rating on the medical technology company’s stock.

BIOLASE Stock Performance

Shares of NASDAQ:BIOL opened at $0.15 on Thursday. The firm’s 50 day moving average price is $0.17 and its 200-day moving average price is $0.88. The company has a current ratio of 1.26, a quick ratio of 0.68 and a debt-to-equity ratio of 34.06. BIOLASE has a twelve month low of $0.13 and a twelve month high of $47.10.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BIOL. Renaissance Technologies LLC lifted its holdings in BIOLASE by 128.5% during the fourth 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. Walleye Capital LLC purchased a new position in shares of BIOLASE during the 2nd quarter valued at $100,000. Citadel Advisors LLC bought a new position in BIOLASE in the 2nd quarter worth $118,000. Finally, State Street Corp increased 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 worth $154,000 after buying an additional 18,682 shares in the last quarter. 8.79% of the stock is currently owned by institutional investors.

About BIOLASE

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.