Biolase Inc (NASDAQ:BIOL) does about 5.50M shares in volume on a normal day but saw 3466687 shares change hands in Monday trading. The company now has a market cap of 4.78M USD. Its current market price is $0.15, marking a decrease of -13.23% compared to the previous close of $0.17. The 52 week high reached by this stock is $47.10 whilst the lowest price level in 52 weeks is $0.13.
Biolase Inc (BIOL) has a 20-day trading average at $0.1599 and the current price is -99.69% off the 52-week high compared with 17.43% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.2702 and its 200-day simple moving average is $2.5366. If we look at the stock’s price movements over the week, volatility stands at 13.66%, which increases to 14.07% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 34.93 to suggest the stock is neutral.
The consensus objective for the share price is $1.63, suggesting that the stock has a potential upside of 90.8% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on June 19, 2019 when The Benchmark Company initiated the stock to “Speculative Buy” and issued a price target of $2. WallachBeth downgraded its price target at $4-$2.50.
Biolase Inc (BIOL) stock is down -23.96% over the week and 4.93% over the past month. Its price is -86.91% year-to-date and -99.43% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of -$1.76 above consensus estimates by $0.79. BIOL’s earnings per share are forecast to grow by 98.90% this year and 65.60% over next year. Expected sales for next quarter are $14.09 million, which analysts say will come at $51.5 million for the current fiscal year and next year at $55.5 million. In addition, estimates put the company’s current quarterly revenue at an average of $10 million.
To reach the target analysts have set, the stock logically needs to grow 90.8 percent from here.
Outstanding shares total 32.52M with insiders holding 0.34% of the shares and institutional holders owning 8.24% of the company’s common stock. The company has a return on investment of -259.26% and return on equity of -888.93%. The beta has a value of 0.69. Price to sales ratio is 0.10.
