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

Equities research analysts at StockNews.com started 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 stock opened at $0.14 on Thursday. The firm has a 50 day simple moving average of $0.16 and a 200-day simple moving average of $0.87. BIOLASE has a twelve month low of $0.13 and a twelve month high of $33.44. The company has a market capitalization of $4.52 million, a P/E ratio of 0.00 and a beta of 0.67. 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 (NASDAQ:BIOL) last announced its quarterly earnings data on Thursday, March 21st. The medical technology company reported ($1.76) earnings per share (EPS) for the quarter. BIOLASE had a negative return on equity of 555.22% and a negative net margin of 41.97%. The firm had revenue of $13.49 million for the quarter.

Hedge Funds Weigh In On BIOLASE

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in BIOLASE by 128.5% in the fourth quarter. Renaissance Technologies LLC now owns 43,059 shares of the medical technology company’s stock valued at $28,000 after buying an additional 24,211 shares during the last quarter. Walleye Capital LLC bought a new stake in BIOLASE in the second quarter valued at $100,000. Citadel Advisors LLC bought a new stake in BIOLASE in the second quarter valued at $118,000. Finally, State Street Corp lifted its stake in BIOLASE by 4.5% in the first quarter. State Street Corp now owns 436,076 shares of the medical technology company’s stock valued at $154,000 after buying an additional 18,682 shares during 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.