Biolase Inc (NASDAQ: BIOL): A Disaster In The Making Or A Gold Mine?

In today’s recent session, 0.53 million shares of the Biolase Inc (NASDAQ:BIOL) have been traded, and its beta is 0.68. Most recently the company’s share price was $0.19, and it changed around $0.0 or -2.80% from the last close, which brings the market valuation of the company to $6.11M. BIOL at last check was trading at a discount to its 52-week high of $47.10, offering almost -24689.47% off that amount. The share price’s 52-week low was $0.13, which indicates that the recent value has risen by an impressive 31.58% since then. We note from Biolase Inc’s average daily trading volume that its 10-day average is 19.77 million shares, with the 3-month average coming to 5.36 million.

Biolase Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 2 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended BIOL as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Biolase Inc is expected to report earnings per share of -$0.17 for the current quarter.

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Biolase Inc (NASDAQ:BIOL) trade information

Instantly BIOL has been showing red trend so far today with a performance of -2.80% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently down -83.26% year-to-date, but still up 10.47% over the last five days. On the other hand, Biolase Inc (NASDAQ:BIOL) is 19.24% up in the 30-day period. We can see from the shorts that 0.29 million shares have been sold at a short interest cover period of 0.06 day(s).

Biolase Inc (BIOL) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 99.10% in revenue this quarter, and will report an increase of 99.40% in the next quarter. The year-over-year growth rate is expected to be 5.30%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $10.14 million in revenue for the current quarter. 2 analysts expect Biolase Inc to make $13.99 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $10.47 million and $14.29 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -3.10%. Forecasts for the next quarter put sales growth at -2.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 59.23%. Biolase Inc earnings are expected to increase by 98.91% in 2024, but the outlook is positive 20.00% per year for the next five years.

BIOL Dividends

Biolase Inc’s next quarterly earnings report is expected to be released around May 09 and May 13.

Biolase Inc (NASDAQ:BIOL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.34% of Biolase Inc shares, and 8.24% of them are in the hands of institutional investors. The stock currently has a share float of 8.27%. Biolase Inc stock is held by 18 institutions, with Anson Funds Management LP being the largest institutional investor. By Dec 30, 2023, it held 0.57% of the shares, which is about 0.19 million shares worth $35359.0.

Blackrock Inc., with 0.08% or 25018.0 shares worth $4778.0 as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 10911.0 shares worth $2084.0, making up 0.03% of all outstanding shares. On the other hand, Fidelity Extended Market Index Fund held roughly 5387.0 shares worth around $1028.0, which represents about 0.02% of the total shares outstanding.