Birchview Capital LP Continues to Hold Position in Biolase, Inc. (BIOL)
Birchview Capital LP continued to hold its stake in Biolase, Inc. (NASDAQ:BIOL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,285,903 shares of the medical technology company’s stock at the end of the second quarter. Biolase accounts for 0.7% of Birchview Capital LP’s investment portfolio, making the stock its 5th largest position. Birchview Capital LP owned approximately 1.90% of Biolase worth $1,247,000 as of its most recent filing with the SEC.
Separately, Trellus Management Company LLC raised its stake in shares of Biolase by 20.3% in the second quarter. Trellus Management Company LLC now owns 350,857 shares of the medical technology company’s stock worth $340,000 after buying an additional 59,104 shares in the last quarter. Hedge funds and other institutional investors own 37.34% of the company’s stock.
Shares of Biolase, Inc. (NASDAQ:BIOL) traded up 0.7122% during mid-day trading on Thursday, reaching $0.5232. 26,160 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $0.75 and a 200 day moving average price of $1.12. Biolase, Inc. has a 52-week low of $0.48 and a 52-week high of $1.98. The firm’s market cap is $39.75 million.
Biolase (NASDAQ:BIOL) last posted its quarterly earnings data on Monday, August 7th. The medical technology company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.04. Biolase had a negative net margin of 31.64% and a negative return on equity of 64.44%. The firm had revenue of $12.61 million for the quarter. Analysts forecast that Biolase, Inc. will post ($0.16) earnings per share for the current fiscal year.
Separately, ValuEngine lowered shares of Biolase from a “hold” rating to a “sell” rating in a research report on Monday, July 24th.
BIOLASE, Inc (BIOLASE) is a medical device company that develops, manufactures, markets and sells laser systems in dentistry and medicine. The Company markets, sells, and distributes dental imaging equipment, including cone beam digital x-rays and computer-aided design (CAD)/computer-aided manufacturing (CAM) intra-oral scanners, in-office, chair-side milling machines and three-dimensional (3-D) printers.
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