BIOLASE, Inc. (NASDAQ:BIOL) is one of the best performers on the stock market today. At current price of $0.78, the shares have already added 0.09 points (12.39% higher) from its previous close of $0.69. Should you buy or avoid them? The stock sets an active trading volume day with a reported 161243 contracts so far this session. BIOL shares had a relatively better volume day versus average trading capacity of 178.87 thousand shares, but with a 23.57 million float and a 17.64% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BIOL stock indicates that the average analyst price target is $2.31 per share. This means the stock has a potential increase of 196.15% from where the BIOL share price has been trading recently.
During the recent trading session for BIOLASE, Inc. (NASDAQ:BIOL), the company witnessed their stock rise $0.07 over a week and surge $0.16 from the price 20 days ago. When compared to their established 52-week high of $2.87, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 07/03/19. The recent low of $0.43 stood for a -72.82% since 12/23/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.21 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for BIOLASE, Inc., the two-week RSI stands at 76. This figure suggests that BIOL stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current BIOL readings is similarly very revealing as it has a stochastic reading of 83.1% at this stage. This figure means that BIOL share price today is being oversold.
Technical chart claims that BIOLASE, Inc. (BIOL) would settle between $0.74/share to $0.78/share level. However, if the stock price goes below the $0.61 mark, then the market for BIOLASE, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.53 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at The Benchmark Company, assumed coverage of BIOL assigning Speculative Buy rating, according to their opinion released on June 19. Singular Research, analysts launched coverage of BIOLASE, Inc. (NASDAQ:BIOL) stock with a Buy recommendation, according to their flash note issued to investors on April 25. Analysts at WallachBeth lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to May 13.
BIOL equity has an average rating of 2.07, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated BIOLASE, Inc. (NASDAQ:BIOL) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, BIOL stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 52.2. BIOLASE, Inc. current P/B ratio of 0 means it is trading at a discount against its industry’s 4.8.
BIOLASE, Inc. (BIOL)’s current-quarter revenues are projected to climb by nearly -3.3% to hit $12.61 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -12.9% from $46.16 million to a noteworthy $40.21 million. At the other end of the current quarter income statement, BIOLASE, Inc. is expected to see its adjusted earnings surge by roughly 61.5% to hit $-0.05 per share. For the fiscal year, BIOL’s earnings are projected to climb by roughly 38% to hit $-0.44 per share.