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Thursday, October 22, 2020

Is Now the Time to Invest in BIOLASE Inc. (NASDAQ:BIOL)?

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BIOLASE Inc. (BIOL) shares are trading at lower $0.31 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $1.07 and the low is $0.21. Over the last 52 weeks, BIOL is down -61.64% while the S&P 500 is up 16.45%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, BIOL reported a profit of $0.94 million. BIOLASE Inc. also saw revenues increase to $2.94 million. In addition, BIOL has free cash flow of -$9.42 million as of 06-2020. The company’s EBITDA came in at -$3.57 million which compares well with its peers.

BIOL booked profit margins of -74.50%, and its Return on Assets is -70.30%. All told, it is clear that, BIOL needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BIOL has a short ratio of 0.09 and outstanding shares of 92.19M.

Company Outlook

BIOL has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.24 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.69. BIOLASE Inc. BIOL also noted assets of $27.76 million at the end of the last quarter. Investors should also keep an eye on sector updates as BIOL has historically followed its peers on positive news.

All told, BIOLASE Inc. BIOL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BIOL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

BIOLASE Inc. BIOL is now commanding a market cap of 29.37M and a float of 83.94M. BIOL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BIOL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in BIOL, either long or short, and we have not been compensated for this article.

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