BIOLASE (NASDAQ:BIOL) Posts Quarterly Earnings Results

BIOLASE (NASDAQ:BIOL) issued its earnings results on Thursday. The medical technology company reported ($0.08) earnings per share for the quarter, reports. BIOLASE had a negative net margin of 43.56% and a negative return on equity of 1,782.73%. The business had revenue of $11.56 million for the quarter.

BIOLASE Trading Down 15.3 %

Shares of BIOL traded down $0.01 on Friday, reaching $0.05. 504,585 shares of the company’s stock were exchanged, compared to its average volume of 3,149,534. The stock has a market capitalization of $1.70 million, a P/E ratio of 0.00 and a beta of 0.71. The business has a 50 day moving average price of $0.10 and a two-hundred day moving average price of $0.19. BIOLASE has a 12 month low of $0.04 and a 12 month high of $6.70.

Institutional Investors Weigh In On BIOLASE

A hedge fund recently raised its stake in BIOLASE stock. Virtu Financial LLC boosted its position in shares of BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 143,537 shares of the medical technology company’s stock after purchasing an additional 131,248 shares during the quarter. Virtu Financial LLC owned 0.43% of BIOLASE worth $27,000 as of its most recent SEC filing. 8.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BIOL has been the topic of several recent research reports. StockNews.com began coverage on shares of BIOLASE in a research report on Thursday. They set a “sell” rating on the stock. Maxim Group downgraded shares of BIOLASE from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 24th. Finally, Benchmark reaffirmed a “speculative buy” rating and issued a $0.40 target price on shares of BIOLASE in a research note on Tuesday, May 14th.

BIOLASE Company Profile

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.