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

kopsource ·  12/04/2022 05:12

BIOLASE, Inc. (NASDAQ:BIOL – Get Rating) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 137,500 shares, a growth of 8.4% from the October 31st total of 126,900 shares. Based on an average daily trading volume, of 77,600 shares, the days-to-cover ratio is presently 1.8 days. Currently, 2.0% of the company's stock are sold short.

BIOLASE Stock Down 12.9 %

BIOL stock traded down $0.12 during trading on Friday, reaching $0.84. 781,008 shares of the company traded hands, compared to its average volume of 223,791. BIOLASE has a 12 month low of $0.76 and a 12 month high of $13.83. The business has a 50 day simple moving average of $1.83 and a 200 day simple moving average of $3.42. The company has a market capitalization of $6.01 million, a price-to-earnings ratio of -0.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.27 and a current ratio of 2.46.

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Institutional Investors Weigh In On BIOLASE

Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its position in BIOLASE by 117.8% during the first quarter. Commonwealth Equity Services LLC now owns 101,046 shares of the medical technology company's stock valued at $35,000 after purchasing an additional 54,650 shares in the last quarter. Capital Wealth Alliance LLC acquired a new stake in BIOLASE in the second quarter worth about $51,000. Essex Investment Management Co. LLC boosted its holdings in BIOLASE by 2.5% in the first quarter. Essex Investment Management Co. LLC now owns 1,621,992 shares of the medical technology company's stock worth $573,000 after acquiring an additional 39,281 shares in the last quarter. State Street Corp boosted its holdings in BIOLASE by 4.5% in the first quarter. State Street Corp now owns 436,076 shares of the medical technology company's stock worth $154,000 after acquiring an additional 18,682 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in BIOLASE in the second quarter worth about $118,000. Institutional investors own 21.21% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com assumed coverage on BIOLASE in a research report on Saturday. They set a "sell" rating on the stock. Ascendiant Capital Markets dropped their price target on BIOLASE to $14.00 in a research report on Wednesday, November 16th. Benchmark dropped their price target on BIOLASE to $7.00 in a research report on Wednesday, November 16th. Finally, Maxim Group dropped their price target on BIOLASE from $10.00 to $5.00 in a research report on Friday, November 11th.

BIOLASE Company Profile

(Get Rating)

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, oral surgeons, and other dental specialists to perform a range of minimally invasive dental procedures, such as cosmetic, restorative, and complex surgical applications.

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