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

Stock analysts at StockNews.com assumed coverage on shares of BIOLASE (NASDAQ:BIOL) in a research note issued on Thursday. The firm set a “sell” rating on the medical technology company’s stock.

BIOLASE Stock Down 6.4 %

BIOL opened at $0.14 on Thursday. The business has a 50 day moving average price of $0.16 and a 200 day moving average price of $0.87. BIOLASE has a twelve month low of $0.13 and a twelve month high of $33.44. The company has a debt-to-equity ratio of 34.06, a quick ratio of 0.68 and a current ratio of 1.26. The firm has a market cap of $4.52 million, a P/E ratio of 0.00 and a beta of 0.67.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC bought a new position in BIOLASE in the 2nd quarter worth approximately $100,000. State Street Corp increased its position 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 during the period. Renaissance Technologies LLC increased its position in BIOLASE by 222.5% in the 1st quarter. Renaissance Technologies LLC now owns 138,848 shares of the medical technology company’s stock worth $39,000 after buying an additional 95,789 shares during the period. Finally, Citadel Advisors LLC bought a new position in BIOLASE in the 2nd quarter worth approximately $118,000. 8.79% of the stock is 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.