Harvard Bioscience (NASDAQ:HBIO) Stock Passes Below 200-Day Moving Average – Time to Sell?

Harvard Bioscience, Inc. (NASDAQ:HBIO)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.98 and traded as low as $5.82. Harvard Bioscience shares last traded at $6.01, with a volume of 8,953 shares trading hands.

Analyst Ratings Changes

HBIO has been the topic of several analyst reports. New Street Research set a $6.00 price objective on Harvard Bioscience in a report on Friday, March 13th. Benchmark reduced their price target on Harvard Bioscience from $20.00 to $6.00 and set a “speculative buy” rating on the stock in a research report on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Harvard Bioscience in a research note on Friday, March 27th. Finally, Wall Street Zen downgraded Harvard Bioscience from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Harvard Bioscience currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Harvard Bioscience Stock Performance

The company’s 50-day moving average price is $6.07 and its 200 day moving average price is $5.98. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.06 and a current ratio of 1.99. The stock has a market capitalization of $27.11 million, a PE ratio of -2.77 and a beta of 1.53.

Harvard Bioscience (NASDAQ:HBIO) last announced its earnings results on Tuesday, May 12th. The medical instruments supplier reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.29. Harvard Bioscience had a negative net margin of 11.44% and a negative return on equity of 25.78%. The firm had revenue of $20.75 million for the quarter, compared to analyst estimates of $21.20 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Harvard Bioscience during the fourth quarter valued at approximately $26,000. Legato Capital Management LLC boosted its holdings in shares of Harvard Bioscience by 210.4% during the 4th quarter. Legato Capital Management LLC now owns 43,467 shares of the medical instruments supplier’s stock valued at $29,000 after buying an additional 29,462 shares in the last quarter. Jane Street Group LLC grew its position in shares of Harvard Bioscience by 491.9% in the 2nd quarter. Jane Street Group LLC now owns 70,736 shares of the medical instruments supplier’s stock worth $31,000 after buying an additional 58,785 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Harvard Bioscience by 291.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 49,751 shares of the medical instruments supplier’s stock worth $33,000 after acquiring an additional 37,057 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in Harvard Bioscience during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 80.87% of the company’s stock.

About Harvard Bioscience

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.