In the last trading session, 8.88 million Biolase Inc (NASDAQ:BIOL) shares changed hands as the company’s beta touched 0.66. With the company’s per share price at $0.17 changed hands at -$0.01 or -5.19% during last session, the market valuation stood at $5.24M. BIOL’s last price was a discount, traded about -27605.88% off its 52-week high of $47.10. The share price had its 52-week low at $0.13, which suggests the last value was 23.53% up since then. When we look at Biolase Inc’s average trading volume, we note the 10-day average is 17.16 million shares, with the 3-month average coming to 4.90 million.
Biolase Inc (NASDAQ:BIOL) trade information
Instantly BIOL was in red as seen at the end of in last trading. With action 20.57%, the performance over the past five days has been green. The drop to weekly highs of 0.2570 subtracted -5.19% to the stock’s daily price. The company’s shares are showing year-to-date downside of -84.85%, with the 5-day performance at 20.57% in the green. However, in the 30-day time frame, Biolase Inc (NASDAQ:BIOL) is 13.86% up. Looking at the short shares, we see there were 0.25 million shares sold at short interest cover period of 0.06 days.
Biolase Inc (BIOL) estimates and forecasts
Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Biolase Inc will rise 95.50%, while the growth in revenue is estimated to hit 94.80% for the next quarter. Year-over-year growth is forecast to reach 7.90% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $10.8 million. 3 analysts are of the opinion that Biolase Inc’s revenue for the quarter ending Jun 2024 will be $14.76 million. The company’s revenue for the corresponding quarters a year ago was $10.47 million and $14.29 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 3.20%. The estimates for the next quarter sales put growth at 3.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 59.23%. The 2024 estimates are for Biolase Inc earnings to increase by 98.91%, but the outlook for the next 5-year period is at 20.00% per year.
BIOL Dividends
Biolase Inc is expected to release its next quarterly earnings report between May 09 and May 13.
Biolase Inc (NASDAQ:BIOL)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.34% of Biolase Inc shares while 8.24% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 8.27%. There are 8.24% institutions holding the Biolase Inc stock share, with Walleye Capital LLC the top institutional holder. As of Jun 29, 2023, the company held 1.36% of the shares, roughly 14205.0 BIOL shares worth $0.1 million.
Zhang Financial LLC holds the second largest percentage of outstanding shares, with 1.16% or 12078.0 shares worth $22465.0 as of Sep 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 926.0 shares estimated at $6546.0 under it, the former controlled 0.09% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.03% of the shares, roughly 292.0 shares worth around $2379.0.
