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BIOLASE Inc. (NASDAQ: BIOL) Share Price Rose Recently, But Trouble May Still Be Afoot

BIOLASE Inc. (NASDAQ:BIOL) traded at $0.64 at close of the session on Monday, 01/23/23, made an upward move of 5.79% on its previous day’s price.

Looking at the stock we see that its previous close was $0.61 and the beta (5Y monthly) reads 1.58 with the day’s price range being $0.59 – $0.66. In terms of its 52-week price range, BIOL has a high of $10.70 and a low of $0.37. The company’s stock has gained about 1.75% over that past 30 days.

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BIOLASE Inc. has a market cap of $19.99 million and is expected to release its quarterly earnings report on Mar 15, 2023 – Mar 20, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.84, with the EPS growth for the year raised at -$3.28 for 2022 and -$2.06 for next year. These figures represent -19.30% and 37.20% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $10.65 million, with a low of $10.5 million and a high of $10.81 million. The median projection represents growth squeezing down to 21.30% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $45.6 million, or 16.40% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the BIOL stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 4 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the BIOLASE Inc. (BIOL) stock as a Hold, while 4 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 8.37% off its SMA20 and -28.72% from its 50-day simple moving average. The RSI (14) is pointing at 47.83 while the volatility over the past week is 16.07% and jumps to 13.46% over the past one month. The beta value is 1.43, while the average true range (ATR) is currently pointing at 0.09.

Coming back to BIOLASE Inc. (NASDAQ:BIOL), we note that the average 3-month trading volume was 449.54K, while that of the preceding 10-day period stands at 1.99 million. Current shares outstanding are 35.58 million.

The insiders hold 0.90% of the company’s shares while institutions hold 20.70%. The data shows that short shares as of Oct 13, 2022, stood at 0.13 million at a short ratio of 5.03. This represents a 1.57% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 0.12 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -1.54% down in year-to-date price movement.

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