Upgrades BIOLASE (NASDAQ:BIOL) to “Hold”

BIOLASE (NASDAQ:BIOLGet Free Report) was upgraded by from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

BIOLASE Trading Down 26.7 %

Shares of BIOLASE stock opened at $0.38 on Tuesday. BIOLASE has a 52-week low of $0.35 and a 52-week high of $58.85. The firm has a 50-day moving average of $1.04 and a 200-day moving average of $7.03. The company has a debt-to-equity ratio of 34.06, a quick ratio of 0.71 and a current ratio of 1.40. The stock has a market cap of $1.30 million, a PE ratio of 0.00 and a beta of 0.86.

BIOLASE (NASDAQ:BIOLGet Free Report) last issued its earnings results on Thursday, November 9th. The medical technology company reported ($3.89) EPS for the quarter. BIOLASE had a negative return on equity of 503.34% and a negative net margin of 50.61%. The business had revenue of $10.92 million for the quarter.

Institutional Trading of BIOLASE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in shares of BIOLASE during the 2nd quarter worth approximately $67,000. State Street Corp increased its position in shares of 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 during the last quarter. Citadel Advisors LLC purchased a new stake in BIOLASE in the 2nd quarter worth about $118,000. Walleye Capital LLC purchased a new stake in BIOLASE in the 2nd quarter worth about $100,000. Finally, Renaissance Technologies LLC boosted its stake 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 purchasing an additional 95,789 shares during the period.


(Get Free Report)

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.

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