Let’s Jump into the BIOLASE, Inc. (NASDAQ:BIOL) Stock Forecast – Marketing Sentinel

Let’s Jump into the BIOLASE, Inc. (NASDAQ:BIOL) Stock Forecast

In the last trading session, 3,387,523 BIOLASE, Inc. (NASDAQ:BIOL) shares changed hands as the company’s beta touched 1.54. With the company’s per share price at $0.86 changed hands at $0 or 0% during last session, the market valuation stood at $125.28 Million. BIOL’s last price was a discount, traded about -75.58% off its 52-week high of $1.51. The share price had its 52-week low at $0.21, which suggests the last value was 75.58% up since then. When we look at BIOLASE, Inc.’s average trading volume, we note the 10-day average is 5.44 Million shares, with the 3-month average coming to 32.54 Million.

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Analysts gave the BIOLASE, Inc. (BIOL) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.7. If we narrow down to specifics, the data shows that none out of 3 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, none recommended BIOL as a Hold, 3 felt it is a Buy and none rated the stock as Underweight. BIOLASE, Inc.’s EPS for the current quarter is expected to be -$0.05.

BIOLASE, Inc. (NASDAQ:BIOL) trade information

Although BIOL has turned red as seen at the end of in last trading. With action -0.07%, the performance over the past five days has been red. The jump to weekly highs of $1.02 on Tuesday, Mar 23 added 15.86% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.06%, with the 5-day performance at -0.16% in the red. However, in the 30-day time frame, BIOLASE, Inc. (NASDAQ:BIOL) is -0.05% down. Looking at the short shares, we see there were 9.48 Million shares sold at short interest cover period of 0.29 days.

The consensus price target for the stock as assigned by Wall Street analysts is $2, meaning bulls need an upside of 132.56% from its current market value. According to analyst projections, BIOL’s forecast low is $2 with $2 as the target high. To hit the forecast high, the stock’s price needs a +132.56% upsurge from its current level, while the stock would need to tank 132.56% for it to hit the projected low.

BIOLASE, Inc. (BIOL) estimates and forecasts

Data shows that the BIOLASE, Inc. share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +206.5% over the past 6 months, a -85.71% in annual growth rate that is considerably lower than the industry average of 16.5%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for BIOLASE, Inc. will rise +73.7%, while the growth in revenue is estimated to hit 75% for the next quarter. Year-over-year growth is forecast to reach 60.8% up from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $7.89 Million. 4 analysts are of the opinion that BIOLASE, Inc.’s revenue for the quarter ending June 01, 2021 will be $8.35 Million. The company’s revenue for the corresponding quarters a year ago was $4.78 Million and $2.94 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 65%. The estimates for the next quarter sales put growth at 184.2%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 19.2%. The 2021 estimates are for BIOLASE, Inc. earnings to increase by 28.4%, but the outlook for the next 5-year period is at 20% per year.

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BIOLASE, Inc. (NASDAQ:BIOL)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 11.08% of BIOLASE, Inc. shares while 12% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 13.49%. There are 37 institutions holding the BIOLASE, Inc. stock share, with Oracle Investment Management Inc the top institutional holder. As of Dec 30, 2020, the company held 1.19% of the shares, roughly 1.74 Million BIOL shares worth $724.68 Thousand.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 0.88% or 1.29 Million shares worth $536.65 Thousand as of Dec 30, 2020.

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Among Mutual Funds, the top two as of Dec 30, 2020 were Vanguard Extended Market Index Fund and Vanguard Total Stock Market Index Fund. With 707632 shares estimated at $294.87 Thousand under it, the former controlled 0.48% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 0.35% of the shares, roughly 513.21 Thousand shares worth around $213.85 Thousand.

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