Biolase Inc (NASDAQ:BIOL) shares, rose in value, with the stock price down by -4.57% to the previous day’s close as strong demand from buyers drove the stock to $0.18.
Actively observing the price movement in the last trading, the stock closed the session at $0.18. The value of beta (5-year monthly) was 0.63. Referring to stock’s 52-week performance, its high was $47.10, and the low was $0.13. On the whole, BIOL has fluctuated by 23.06% over the past month.
With the market capitalization of Biolase Inc currently standing at about $5.71 million, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.17, which is expected to increase to -$0.02 for fiscal year -$0.32 and then to about -$0.11 by fiscal year 2025. Data indicates that the EPS growth is expected to be 98.90% in 2025, while the next year’s EPS growth is forecast to be 65.60%.
Analysts have estimated the company’s revenue for the quarter at $10 million, with a low estimate of $9.7 million and a high estimate of $10.49 million. According to the average forecast, sales growth in current quarter could jump down -4.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $51.5 million, representing an increase of 4.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that BIOL’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BIOL currently trading nearly 14.09% and -46.27% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.59, while the 7-day volatility ratio is showing 17.07% which for the 30-day chart, stands at 12.62%. Furthermore, Biolase Inc (BIOL)’s beta value is 0.68, and its average true range (ATR) is 0.03.
A comparison of Biolase Inc (BIOL) with its peers suggests the former has fared considerably weaker in the market. BIOL showed an intraday change of -4.57% in last session, and over the past year, it shrunk by -99.38%%.
Data on historical trading for Biolase Inc (NASDAQ:BIOL) indicates that the trading volumes over the past 10 days have averaged 19.92 million and over the past 3 months, they’ve averaged 5.40 million. According to company’s latest data on outstanding shares, there are 32.52 million shares outstanding.
Nearly 5.64% of Biolase Inc’s shares belong to company insiders and institutional investors own 4.58% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.29 million shares as on Mar 15, 2024, resulting in a short ratio of 0.06. According to the data, the short interest in Biolase Inc (BIOL) stood at 0.89% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.68 million. The stock has fallen by -84.35% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BIOL stock heading into the next quarter.
