Harvard Bioscience (NASDAQ:HBIO) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Harvard Bioscience, Inc. (NASDAQ:HBIO)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.56 and traded as low as $0.5575. Harvard Bioscience shares last traded at $0.5674, with a volume of 335,061 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on HBIO. Wall Street Zen upgraded shares of Harvard Bioscience from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Harvard Bioscience in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Harvard Bioscience to a “hold” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Harvard Bioscience has an average rating of “Hold” and an average target price of $2.00.

Harvard Bioscience Trading Down 2.7%

The stock’s 50-day simple moving average is $0.61 and its 200-day simple moving average is $0.56. The stock has a market cap of $25.37 million, a price-to-earnings ratio of -0.47 and a beta of 1.55.

Hedge Funds Weigh In On Harvard Bioscience

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of Harvard Bioscience by 44.4% during the 4th quarter. Bank of America Corp DE now owns 38,883 shares of the medical instruments supplier’s stock valued at $82,000 after acquiring an additional 11,948 shares during the period. XTX Topco Ltd acquired a new position in Harvard Bioscience in the fourth quarter valued at about $26,000. Legato Capital Management LLC raised its stake in Harvard Bioscience by 210.4% in the fourth quarter. Legato Capital Management LLC now owns 43,467 shares of the medical instruments supplier’s stock valued at $29,000 after purchasing an additional 29,462 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Harvard Bioscience by 291.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 49,751 shares of the medical instruments supplier’s stock worth $33,000 after buying an additional 37,057 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in Harvard Bioscience during the fourth quarter worth about $38,000. Institutional investors own 80.87% of the company’s stock.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc develops, manufactures and distributes life science research instruments and consumables used by academic, biopharmaceutical and government laboratories worldwide. The company’s product portfolio spans cellular physiology, microfluidics, electrophysiology and lab automation, providing tools that enable researchers to study everything from cell behavior and organ function to drug delivery and tissue mechanics.

Through its operating units—most notably Harvard Apparatus, BTX, Radnoti and Warner Instruments—Harvard Bioscience offers a diverse range of scientific equipment including precision pumps, stereotaxic instruments, electroporation and gene delivery systems, perfusion systems and microinjection tools.