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

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

Institutional Investors Weigh In On BIOLASE

A hedge fund recently raised its stake in BIOLASE stock. Virtu Financial LLC grew its holdings in shares of BIOLASE, Inc. (NASDAQ:BIOL) by 1,068.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,537 shares of the medical technology company’s stock after buying an additional 131,248 shares during the period. Virtu Financial LLC owned 0.43% of BIOLASE worth $27,000 as of its most recent filing with the Securities and Exchange Commission. 8.79% of the stock is currently owned by institutional investors and hedge funds.

BIOLASE Stock Performance

NASDAQ BIOL remained flat at $0.10 during trading hours on Wednesday. 49,958 shares of the company’s stock were exchanged, compared to its average volume of 3,760,023. The company has a 50 day moving average of $0.14 and a 200-day moving average of $0.38. BIOLASE has a 1 year low of $0.04 and a 1 year high of $10.31. The company has a market cap of $3.34 million, a PE ratio of -0.01 and a beta of 0.71.

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

Analyst Upgrades and Downgrades

BIOL has been the subject of a number of research reports. Benchmark reiterated a “speculative buy” rating and issued a $0.40 price target on shares of BIOLASE in a research note on Tuesday, May 14th. Maxim Group cut shares of BIOLASE from a “strong-buy” rating to a “hold” rating in a report on Friday, May 24th. Finally, StockNews.com started coverage on shares of BIOLASE in a report on Saturday. They issued a “sell” rating on the stock.

About BIOLASE

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.