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BIOLASE Inc. (NASDAQ: BIOL) Has Been Falling -98.36% Since The Beginning Of The Year. Troubles Ahead?

During the last session, BIOLASE Inc. (NASDAQ:BIOL)’s traded shares were 48.61 million, with the beta value of the company hitting 1.39. At the end of the trading day, the stock’s price was $0.08, reflecting an intraday loss of -39.91% or -$0.06. The 52-week high for the BIOL share is $5.94, that puts it down -7325.0 from that peak though still a striking -25.0% loss since the share price plummeted to a 52-week low of $0.10. The company’s market capitalization is $2.30M, and the average intraday trading volume over the past 10 days was 8.33 million shares, and the average trade volume was 1.62 million shares over the past three months.

BIOLASE Inc. (BIOL) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. BIOL has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.12.

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BIOLASE Inc. (NASDAQ:BIOL) trade information

BIOLASE Inc. (BIOL) registered a -39.91% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -39.91% in intraday trading to $0.08 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -50.30%, and it has moved by -60.56% in 30 days. Based on these gigs, the overall price performance for the year is -98.36%. The short interest in BIOLASE Inc. (NASDAQ:BIOL) is 0.82 million shares and it means that shorts have 0.38 day(s) to cover.

The consensus price target of analysts on Wall Street is $3.63, which implies an increase of 97.8% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $10.00 respectively. As a result, BIOL is trading at a discount of -12400.0% off the target high and -1150.0% off the low.

BIOLASE Inc. (BIOL) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 86.80% this quarter and then jump 96.40% in the quarter after that. In the rating firms’ projections, revenue will increase 25.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $15.6 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $15.55 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $12.23 million and $10.65 million respectively. In this case, analysts expect current quarter sales to grow by 27.50% and then jump by 46.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -61.70%. While earnings are projected to return -47.30% in 2023, the next five years will return 20.00% per annum.

BIOL Dividends

BIOLASE Inc. is due to release its next quarterly earnings between August 09 and August 14. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

BIOLASE Inc. insiders own 15.47% of total outstanding shares while institutional holders control 12.98%, with the float percentage being 15.35%. Perkins Capital Management, Inc. is the largest shareholder of the company, while 30 institutions own stock in it. As of Mar 30, 2023, the company held over 2.72 million shares (or 8.70% of all shares), a total value of $0.23 million in shares.

The next largest institutional holding, with 1.94 million shares, is of AWM Investment Company, Inc.’s that is approximately 6.19% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $0.16 million.

Also, the Mutual Funds coming in first place with the largest holdings of BIOLASE Inc. (BIOL) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 0.17 million shares. This amounts to just over 0.63 percent of the company’s overall shares, with a $14031.0 market value. The same data shows that the other fund manager holds slightly less at 92558.0, or about 0.35% of the stock, which is worth about $7774.0.

On Key

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