Biolase, Inc. (BIOL) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Biolase, Inc. (NASDAQ:BIOL) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Shares of Biolase (BIOL) opened at 0.57 on Monday. Biolase has a 12 month low of $0.48 and a 12 month high of $1.90. The firm has a 50-day moving average of $0.58 and a 200-day moving average of $0.96. The firm’s market cap is $43.31 million.

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

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A hedge fund recently raised its stake in Biolase stock. Trellus Management Company LLC grew its stake in Biolase, Inc. (NASDAQ:BIOL) by 20.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 0.52% of Biolase worth $340,000 at the end of the most recent reporting period. 37.34% of the stock is owned by institutional investors.

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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