BIOLASE Inc. [NASDAQ: BIOL] gained 0.85% or 0.0 points to close at $0.74 with a heavy trading volume of 3037423 shares. The company report on April 20, 2021 that BIOLASE and EdgeEndo Announce Plans to Develop New EdgePRO Laser-Assisted Microfluidic Irrigation Device for Endodontists.
BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, and EdgeEndo, a global leader in commercializing endodontic products, announced in association with the American Association of Endodontists (AAE) Annual Meeting beginning on April 21, 2021, the co-development of EdgePRO, a next-generation Laser-Assisted Microfluidic Irrigation device for endodontists. This new Microfluidic Irrigation device is being developed to offer a solution for endodontists seeking more from their current cleaning and disinfection techniques, such as sodium hypochlorite, ethylenediaminetetraacetic acid, chlorhexidine or 2-in-1 or 3-in-1 irrigation solutions. BIOLASE anticipates submitting a premarket notification (510(k)) to the Food and Drug Administration for the co-developed device in the second quarter of 2021. The device is not currently available for sale in the United States.
The EdgePRO Laser-Assisted Microfluidic Irrigation device will build upon BIOLASE’s patented and proven platform that has been shown to significantly improve debridement1, cleaning and disinfection up to 99%2-4, and removes smear layer5-9 and biofilms10,11 using the most advanced laser light sound technology with traditional irrigation solutions.
It opened the trading session at $0.755, the shares rose to $0.768 and dropped to $0.7156, the range by which the price of stock traded the whole day. The daily chart for BIOL points out that the company has recorded 154.57% gains over the past six months. However, it is still -196.0% lower than its most recent low trading price.
If we look at the average trading volume of 16.84M shares, BIOL reached to a volume of 3037423 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about BIOLASE Inc. [BIOL]:
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 0.08, with the Price to Sales ratio for BIOL stock in the period of the last 12 months amounting to 5.28. The Price to Book ratio for the last quarter was 6.76, with the Price to Cash per share for the same quarter was set at 0.11.
Trading performance analysis for BIOL stock
BIOLASE Inc. [BIOL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.43. With this latest performance, BIOL shares dropped by -23.34% in over the last four-week period, additionally plugging by 154.57% over the last 6 months – not to mention a rise of 56.55% 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 40.90, with the RSI for the last a single of trading hit 39.19, and the three-weeks RSI is set at 43.07 for BIOLASE Inc. [BIOL]. The present Moving Average for the last 50 days of trading for this stock 0.9383, while it was recorded at 0.7213 for the last single week of trading, and 0.5703 for the last 200 days.
BIOLASE Inc. [BIOL]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and BIOLASE Inc. [BIOL] shares currently have an operating margin of -81.37 and a Gross Margin at +27.10. BIOLASE Inc.’s Net Margin is presently recorded at -73.88.
Return on Total Capital for BIOL is now -79.85, given the latest momentum, and Return on Invested Capital for the company is -104.10. Return on Equity for this stock declined to -234.22, with Return on Assets sitting at -45.61. When it comes to the capital structure of this company, BIOLASE Inc. [BIOL] has a Total Debt to Total Equity ratio set at 182.14. Additionally, BIOL Total Debt to Total Capital is recorded at 64.56, with Total Debt to Total Assets ending up at 44.52. Long-Term Debt to Equity for the company is recorded at 181.23, with the Long-Term Debt to Total Capital now at 63.48.
Reflecting on the efficiency of the workforce at the company, BIOLASE Inc. [BIOL] managed to generate an average of -$124,659 per employee. Receivables Turnover for the company is 3.85 with a Total Asset Turnover recorded at a value of 0.62.BIOLASE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 3.10.
BIOLASE Inc. [BIOL]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, BIOLASE Inc. posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.80%. 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%.
An analysis of insider ownership at BIOLASE Inc. [BIOL]
There are presently around $6 million, or 11.40% 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 5.26% of the total institutional ownership; VANGUARD GROUP INC, holding 1,287,859 shares of the stock with an approximate value of $0.96 million in BIOL stocks shares; and PERKINS CAPITAL MANAGEMENT INC, currently with $0.91 million in BIOL stock with ownership of nearly 9.473% of the company’s market capitalization.
Positions in BIOLASE Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 19 institutional holders increased their position in BIOLASE Inc. [NASDAQ:BIOL] by around 2,960,367 shares. Additionally, 16 investors decreased positions by around 744,598 shares, while 10 investors held positions by with 3,721,950 shares. The mentioned changes placed institutional holdings at 7,426,915 shares, according to the latest SEC report filing. BIOL stock had 9 new institutional investments in for a total of 1,218,705 shares, while 11 institutional investors sold positions of 299,320 shares during the same period.