Biolase Inc [BIOL] Revenue clocked in at $49.73 million, down -85.27% YTD: What’s Next?

Biolase Inc [NASDAQ: BIOL] price plunged by -63.18 percent to reach at -$0.28. The company report on February 13, 2024 at 9:15 AM that BIOLASE, Inc. Announces Pricing of $7.0 Million Public Offering.

BIOLASE, Inc. (NASDAQ:BIOL), the global leader in dental lasers, today announced the pricing of its public offering of 16,000,000 units, with each unit consisting of one share of common stock (or one pre-funded warrant to purchase one share of common stock), one Class A Warrant to purchase one share of common stock, and one Class B Warrant to purchase one share of common stock. Each unit is being sold at an effective public offering price of $0.44. The Class A warrants will be immediately exercisable at a price of $0.66 per share and will expire five years from the date of issuance. The Class B warrants will be exercisable on the date of stockholder approval at a price of $0.748 per share and will expire five years from the date of such stockholder approval. The shares of common stock (or pre-funded warrants in lieu thereof) and accompanying warrants can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance.

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Gross proceeds, before deducting placement agent fees and other offering expenses, are expected to be approximately $7.0 million. The offering is expected to close on February 15, 2024, subject to customary closing conditions.

The one-year BIOL stock forecast points to a potential upside of 97.51. The average equity rating for BIOL stock is currently 1.00, 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 $6.83 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 1.00. 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.

The Average True Range (ATR) for Biolase Inc is set at 0.12, with the Price to Sales ratio for BIOL stock in the period of the last 12 months amounting to 0.01. The Price to Book ratio for the last quarter was 1.13, with the Price to Cash per share for the same quarter was set at 2.28.

BIOL Stock Performance Analysis:

Biolase Inc [BIOL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -68.03. With this latest performance, BIOL shares dropped by -84.11% in over the last four-week period, additionally sinking by -96.97% over the last 6 months – not to mention a drop of -99.67% 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 18.65, with the RSI for the last a single of trading hit 16.46, and the three-weeks RSI is set at 21.49 for Biolase Inc [BIOL]. The present Moving Average for the last 50 days of trading for this stock 0.9800, while it was recorded at 0.3814 for the last single week of trading, and 5.1445 for the last 200 days.

Insight into Biolase Inc Fundamentals:

Biolase Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.71 and a Current Ratio set at 1.40.

BIOL Stock EPS

With the latest financial reports released by the company, Biolase Inc posted -128/share EPS, while the average EPS was predicted by analysts to be reported at -63.67/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -101.00%. 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] Institutonal Ownership Details

The top three institutional holders of BIOL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BIOL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BIOL stock with ownership which is approximately 5.8325%.