The stock of BIOLASE, Inc. (NASDAQ:BIOL) is now priced at $0.32 and the shares are 0 points down or -0.75% lower compared to its previous closing price of $0.32. The stock had 1.691 million contracts set over the past session. BIOL shares’ daily volume is compared to its average trading volume at 9.108 million shares. However, it has a float of 83.94 million and although its performance was -15.69% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the BIOL share price recently placing at $0.3074 to $0.319. However, some brokerage firms have priced the stock below the average, including one that has called $1.15.

The shorts are climbing into the BIOLASE, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the BIOL shares have risen. Short interest in the stock represents just 1.02% of its float, but the volume has raised by 236345. The volume of shorted shares rised to 852622 from 616277 shares over the last two weeks. The average intraday trading volume has been 6.58 million shares, which means that days to cover moved to roughly 1.

In the last trading session, BIOLASE, Inc. (NASDAQ:BIOL) dropped by -$0.0591 over the week and lost -$0.0915 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.1574. The stock recorded its established 52-week high on 09/16/19.

Since 04/06/20, the stock has traded to a low of $0.211 at 50.47%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.97. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, BIOLASE, Inc.’s two-week RSI is 29.2. This suggests that the stock is overbought at the moment and that BIOL shares’ price movement remains not stable. The stochastic readings are equally revealing at 9.68% meaning the BIOL share price is currently in overbought territory.

The technical chart shows that the BIOL stock will likely settle at between $0.3219 and $0.3262 per share. However, if the stock dips below $0.3103, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.303.

Currently, the stock is trading in the red of MACD, with a reading of -0.0338. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.

Analysts at Maxim Group assigned BIOL a rating of Speculative Buy in their intiating review released on June 19. Singular Research analysts see the stock as a Buy with a target price of $2.5 in a flash note released to investors on April 25 initiating covering the stock. WallachBeth seeing the stock struggling downgraded it from Buy to Hold on May 13 placing it at $4 to $2.50.

The average rating for the BIOL equity is 1.67 and is currently gathering a bullish momentum. Of 3 analysts tracking BIOLASE, Inc. polled by Reuters, 0 rated BIOL as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.

The stocks P/S ratio currently stands below the group’s average of 46.1. BIOLASE, Inc. has its P/E ratio at 22.4, which means that the stock is currently trading at a premium relative to the 4.9 industry average.

Zacks Consensus Estimate forecasts that the current-quarter revenues for BIOLASE, Inc. (NASDAQ:BIOL) will decrease by about -99.81%, which will see them reach $5.56 million. The company’s full-year revenues are, however, expected to diminish by about -36.8%, down from $37.8 million to $23.89 million. BIOL’s expected adjusted earnings should drop almost -50% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -31.82% to record -$0.3/share.