BIOLASE Inc. [NASDAQ: BIOL] price surged by 10.00 percent to reach at $0.11. The company report on February 6, 2021 that BIOLASE, Inc. Announces Pricing of $14.4 Million Bought Deal Offering.
BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, announced that it has entered into an underwriting agreement with Maxim Group LLC under which the underwriters have agreed to purchase, on a firm commitment basis, 14,000,000 shares of common stock of the Company, at a price to the public of $1.03 per share less underwriting discounts and commissions. The gross proceeds from the offering are expected to be approximately $14.4 million, before deducting underwriting discounts and commissions and estimated offering expenses.
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Maxim Group LLC, The Benchmark Company, LLC & Colliers Securities LLC are acting as joint-bookrunning managers for the offering.
A sum of 29017329 shares traded at recent session while its average daily volume was at 31.65M shares. BIOLASE Inc. shares reached a high of $1.28 and dropped to a low of $1.17 until finishing in the latest session at $1.21.
The one-year BIOL stock forecast points to a potential upside of 35.64. The average equity rating for BIOL stock is currently 1.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on BIOLASE Inc. [BIOL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BIOL shares is $1.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BIOL stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Benchmark Company have made an estimate for BIOLASE Inc. shares, keeping their opinion on the stock as Speculative Buy, with their previous recommendation back on June 19, 2019. While these analysts kept the previous recommendation, Singular Research raised their target price to Buy. The new note on the price target was released on April 25, 2017, representing the official price target for BIOLASE Inc. stock. Previously, the target price had yet another drop from $4 to $2.50, while WallachBeth kept a Hold rating on BIOL stock. On November 12, 2013, analysts decreased their price target for BIOL shares from 3.50 to 2.75.
The Average True Range (ATR) for BIOLASE Inc. is set at 0.17, with the Price to Sales ratio for BIOL stock in the period of the last 12 months amounting to 5.64. The Price to Book ratio for the last quarter was 7.12, with the Price to Cash per share for the same quarter was set at 0.17.
BIOL Stock Performance Analysis:
BIOLASE Inc. [BIOL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.08. With this latest performance, BIOL shares gained by 148.31% in over the last four-week period, additionally plugging by 181.59% over the last 6 months – not to mention a rise of 92.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BIOL stock in for the last two-week period is set at 62.76, with the RSI for the last a single of trading hit 61.59, and the three-weeks RSI is set at 63.49 for BIOLASE Inc. [BIOL]. The present Moving Average for the last 50 days of trading for this stock 0.6216, while it was recorded at 1.1240 for the last single week of trading, and 0.4414 for the last 200 days.
Insight into BIOLASE Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and BIOLASE Inc. [BIOL] shares currently have an operating margin of -41.33 and a Gross Margin at +37.80. BIOLASE Inc.’s Net Margin is presently recorded at -47.24.
Return on Total Capital for BIOL is now -77.99, given the latest momentum, and Return on Invested Capital for the company is -135.93. Return on Equity for this stock declined to -231.42, with Return on Assets sitting at -49.57. When it comes to the capital structure of this company, BIOLASE Inc. [BIOL] has a Total Debt to Total Equity ratio set at 317.64. Additionally, BIOL Total Debt to Total Capital is recorded at 76.06, with Total Debt to Total Assets ending up at 42.09. Long-Term Debt to Equity for the company is recorded at 0.80, with the Long-Term Debt to Total Capital now at 0.02.
Reflecting on the efficiency of the workforce at the company, BIOLASE Inc. [BIOL] managed to generate an average of -$113,726 per employee. Receivables Turnover for the company is 3.80 with a Total Asset Turnover recorded at a value of 1.05.BIOLASE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.70.
BIOL Stock EPS
With the latest financial reports released by the company, BIOLASE Inc. posted -0.05/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BIOL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for BIOLASE Inc. go to 20.00%.
BIOLASE Inc. [BIOL] Insider Position Details
There are presently around $7 million, or 9.10% of BIOL stock, in the hands of institutional investors. The top three institutional holders of BIOL stocks are: ORACLE INVESTMENT MANAGEMENT INC with ownership of 1,739,100, which is approximately 0% of the company’s market cap and around 11.08% of the total institutional ownership; PERKINS CAPITAL MANAGEMENT INC, holding 1,111,000 shares of the stock with an approximate value of $1.34 million in BIOL stocks shares; and VANGUARD GROUP INC, currently with $0.94 million in BIOL stock with ownership of nearly -23.439% of the company’s market capitalization.
Positions in BIOLASE Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 17 institutional holders increased their position in BIOLASE Inc. [NASDAQ:BIOL] by around 1,110,298 shares. Additionally, 14 investors decreased positions by around 1,207,395 shares, while 10 investors held positions by with 3,055,711 shares. The mentioned changes placed institutional holdings at 5,373,404 shares, according to the latest SEC report filing. BIOL stock had 8 new institutional investments in for a total of 636,986 shares, while 6 institutional investors sold positions of 622,490 shares during the same period.