BIOLASE, Inc. (NASDAQ:BIOL) Short Interest Update

BIOLASE, Inc. (NASDAQ:BIOL) saw a significant decrease in short interest in June. As of June 15th, there was short interest totalling 1,970,000 shares, a decrease of 6.2% from the May 31st total of 2,100,000 shares. Approximately 6.1% of the shares of the stock are short sold. Based on an average daily volume of 4,720,000 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com assumed coverage on BIOLASE in a research report on Saturday. They issued a “sell” rating on the stock. Benchmark restated a “speculative buy” rating and issued a $0.40 target price on shares of BIOLASE in a research report on Tuesday, May 14th. Finally, Maxim Group downgraded BIOLASE from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 24th.

Hedge Funds Weigh In On BIOLASE

An institutional investor recently raised its position in BIOLASE stock. Virtu Financial LLC increased its stake in shares of BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 143,537 shares of the medical technology company’s stock after buying an additional 131,248 shares during the quarter. Virtu Financial LLC owned about 0.43% of BIOLASE worth $27,000 at the end of the most recent reporting period. 8.79% of the stock is owned by hedge funds and other institutional investors.

BIOLASE Price Performance

Shares of NASDAQ BIOL remained flat at $0.10 during midday trading on Wednesday. The stock had a trading volume of 49,958 shares, compared to its average volume of 3,760,023. BIOLASE has a 1-year low of $0.04 and a 1-year high of $10.31. The firm has a market capitalization of $3.34 million, a P/E ratio of -0.01 and a beta of 0.71. The company’s 50-day simple moving average is $0.14 and its 200 day simple moving average is $0.38.

BIOLASE (NASDAQ:BIOL) last announced its quarterly earnings data on Monday, May 13th. The medical technology company reported ($0.36) EPS for the quarter. BIOLASE had a negative return on equity of 1,782.73% and a negative net margin of 43.56%. The company had revenue of $10.13 million for the quarter.

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.