Is There More Upside Ahead For BIOLASE Inc. (NASDAQ: BIOL)


    Armistice Capital LLC has recently announced that it has increased stake in BIOLASE Inc. (NASDAQ:BIOL) by 142.30%. After grabbing 6.06 million shares, the institutional investor is now in possession of 3.56 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 12.03% having worth around $2.48 million. Moreover, Perkins Capital Management, Inc. increased its share by 61900.0 to have a control over 1.38 million shares. And The Vanguard Group, Inc. raised its holdings to 36268.0 shares by acquiring 1.01 million shares or 2.01% of the stake.

    BIOLASE Inc. (BIOL) concluded trading on 08/27/20 at a closing price of $0.32, with 3.51 million shares of worth about $1.12 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -18.89% during that period and on Thursday the price saw a loss of about -3.93%. Currently the company’s common shares owned by public are about 92.19M shares, out of which, 83.94M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the BIOL stock and their offered price forecasts bring an average price target of $1.63. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $2.00 and could fall to a lowest price of $1.15. Analysts also issued an outlook of 1.70 for the BIOLASE Inc. stock for next 12 months. However, touching the estimated high of $2.00 would mean a gain of 84.0% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 6 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 6 selling transactions, insiders dumped 3,078,243 shares.

    Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu are the top 3 mutual funds which are holding stakes in BIOLASE Inc. Vanguard Total Stock Market Index is currently holding 0.82 million shares of worth totaling $0.33 million. The company recently came buying 0.0 shares which brought its stake up to 1.62% of the company’s outstanding shares. Fidelity Extended Market Index Fu, after buying 34145.0 shares, have now control over 0.07% of the stake in the company. It holds 0.0 shares of worth $13965.0.

    BIOLASE Inc. (NASDAQ: BIOL) started trading at $0.333, below $0.0 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $0.32, or with a loss of -3.93%. Stock saw a price change of -18.89% in past 5 days and over the past one month there was a price change of -23.38%. Year-to-date (YTD), BIOL shares are showing a performance of -42.12% which decreased to -68.22% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.21 but also hit the highest price of $1.16 during that period. While comparing its average daily trading volume of 8.97 million shares, we see that about 3.51 million changed hands on the day. The stock is currently trading -20.03% below its 20-day simple moving average (SMA20), while that difference is down -26.91% for SMA50 and it goes to -37.53% lower than SMA200.

    Armistice Capital LLC acquired 6.06 million shares of BIOLASE Inc. having value of about $2.48 million. Data submitted at the U.S SEC by Armistice Capital LLC revealed that the firm now holds 3.56 million shares in the company valued at close to $1138364.16, or have control over 142.30% stake in the company. BIOLASE Inc. (NASDAQ: BIOL) currently have 92.19M outstanding shares and institutions hold larger chunk of about 8.60% of that. Holding of mutual funds in the company is about 2.14% while other institutional holders and individual stake holders have control over 20.69% and 13.19% of the stake respectively.

    The stock has a current market capitalization of $30.89M and its 3Y-monthly beta is at 2.12. It has posted earnings per share of -$0.69 in the same period. It has Quick Ratio of 0.50 while making debt-to-equity ratio of 12.77. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BIOL, volatility over the week remained 7.99% while standing at 6.14% over the month.

    Analysts are in expectations that BIOLASE Inc. (BIOL) stock would likely to be making an EPS of -$0.06 in the current quarter, while forecast for next quarter ESPS is -$0.03 and it is -$0.09 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.06 which is -$0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.12 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 28.40% while it is estimated to increase by 70.00% in next year. EPS is likely to grow at an annualized rate of 20.00% for next 5-years, compared to annual growth of 19.20% made by the stock over the past 5-years.

    Analysts at 3 brokerage firms have issued recommendations for the BIOLASE Inc. (BIOL)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 3 Wall Street analysts, 3 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by The Benchmark Company on June 19, 2019 offering a Speculative buy rating for the stock and assigned a target price of $2 to it. Coverage by Singular Research stated BIOLASE Inc. (BIOL) stock as a Buy in their note to investors on April 25, 2017, suggesting a price target of $2.50 for the stock. On May 13, 2014, WallachBeth Downgrade their recommendations, while on November 12, 2013, WallachBeth Reiterated their ratings for the stock with a price target of $2.75. Stock get a Buy rating from WallachBeth on August 08, 2013.


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