BIOLASE Inc (NASDAQ:BIOL)’s share price rose 16.9% on Wednesday . The company traded as high as $0.70 and last traded at $0.69, approximately 528,119 shares were traded during mid-day trading. An increase of 168% from the average daily volume of 196,732 shares. The stock had previously closed at $0.59.

BIOL has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of BIOLASE from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. ValuEngine upgraded shares of BIOLASE from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. BIOLASE has a consensus rating of “Buy” and a consensus price target of $2.17.

The business’s 50 day moving average is $0.56 and its two-hundred day moving average is $0.94. The firm has a market capitalization of $23.64 million, a PE ratio of -0.94 and a beta of 2.16. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.84 and a current ratio of 1.66.

BIOLASE (NASDAQ:BIOL) last released its quarterly earnings results on Wednesday, November 6th. The medical technology company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.13. The firm had revenue of $8.65 million during the quarter. BIOLASE had a negative net margin of 52.13% and a negative return on equity of 313.64%. As a group, equities research analysts predict that BIOLASE Inc will post -0.69 EPS for the current year.

In other news, major shareholder Larry N. Feinberg purchased 17,391 shares of BIOLASE stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average cost of $57.50 per share, for a total transaction of $999,982.50. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 4.50% of the stock is owned by insiders.

An institutional investor recently raised its position in BIOLASE stock. Vanguard Group Inc. grew its position in shares of BIOLASE Inc (NASDAQ:BIOL) by 487.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 958,247 shares of the medical technology company’s stock after purchasing an additional 795,067 shares during the period. Vanguard Group Inc. owned approximately 4.50% of BIOLASE worth $1,408,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 26.88% of the company’s stock.

BIOLASE Company Profile (NASDAQ:BIOL)

BIOLASE, Inc, a medical device company, develops, manufactures, markets, and sells laser systems in dentistry and medicine for patients and health care professionals in the worldwide. The company offers Waterlase all-tissue dental laser systems for cutting soft and hard tissues; and diode laser systems to perform soft tissue, pain therapy, and cosmetic procedures, including teeth whitening.

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