ValuEngine Downgrades Biolase, Inc. (NASDAQ:BIOL) to Sell

ValuEngine cut shares of Biolase, Inc. (NASDAQ:BIOL) from a hold rating to a sell rating in a report published on Monday, July 24th.

Separately, Singular Research assumed coverage on shares of Biolase in a research report on Tuesday, April 25th. They issued a buy rating and a $2.50 price target for the company.

Shares of Biolase (NASDAQ:BIOL) opened at 0.60 on Monday. The firm has a 50-day moving average price of $0.80 and a 200-day moving average price of $1.16. The firm’s market capitalization is $45.59 million. Biolase has a 52 week low of $0.48 and a 52 week high of $1.98.

Biolase (NASDAQ:BIOL) last issued its quarterly earnings data on Monday, August 7th. The medical technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.04. Biolase had a negative return on equity of 64.44% and a negative net margin of 31.64%. The firm had revenue of $12.61 million for the quarter. On average, equities analysts expect that Biolase will post ($0.16) earnings per share for the current fiscal year.

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An institutional investor recently raised its position in Biolase stock. Trellus Management Company LLC boosted its stake in shares of Biolase, Inc. (NASDAQ:BIOL) by 20.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,857 shares of the medical technology company’s stock after buying an additional 59,104 shares during the period. Trellus Management Company LLC owned about 0.52% of Biolase worth $340,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 37.55% of the company’s stock.

About Biolase

BIOLASE, Inc (BIOLASE) is a medical device company that develops, manufactures, markets and sells laser systems in dentistry and medicine. The Company markets, sells, and distributes dental imaging equipment, including cone beam digital x-rays and computer-aided design (CAD)/computer-aided manufacturing (CAM) intra-oral scanners, in-office, chair-side milling machines and three-dimensional (3-D) printers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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