Harvard Bioscience (NASDAQ:HBIO) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Harvard Bioscience, Inc. (NASDAQ:HBIO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.92 and traded as high as $6.28. Harvard Bioscience shares last traded at $6.05, with a volume of 20,448 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. New Street Research set a $6.00 price objective on Harvard Bioscience in a research report on Friday, March 13th. Wall Street Zen downgraded Harvard Bioscience from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Benchmark cut their price target on Harvard Bioscience from $20.00 to $6.00 and set a “speculative buy” rating on the stock in a research note on Friday, March 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Harvard Bioscience in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.00.

Harvard Bioscience Stock Performance

The company has a 50-day moving average price of $6.11 and a two-hundred day moving average price of $5.92. The company has a current ratio of 1.99, a quick ratio of 1.06 and a debt-to-equity ratio of 3.60. The stock has a market capitalization of $27.29 million, a P/E ratio of -2.79 and a beta of 1.49.

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

Institutional Investors Weigh In On Harvard Bioscience

A number of institutional investors and hedge funds have recently bought and sold shares of HBIO. Nano Cap New Millennium Growth Fund L P purchased a new stake in Harvard Bioscience in the 4th quarter valued at about $401,000. Meros Investment Management LP boosted its stake in shares of Harvard Bioscience by 32.6% in the 4th quarter. Meros Investment Management LP now owns 1,217,628 shares of the medical instruments supplier’s stock worth $814,000 after buying an additional 299,369 shares during the last quarter. Legato Capital Management LLC grew its holdings in shares of 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 acquiring an additional 29,462 shares in the last quarter. Williams & Novak LLC grew its holdings in shares of Harvard Bioscience by 26.6% in the fourth quarter. Williams & Novak LLC now owns 348,800 shares of the medical instruments supplier’s stock valued at $233,000 after acquiring an additional 73,300 shares in the last quarter. Finally, Weber Capital Management LLC ADV purchased a new stake in shares of Harvard Bioscience during the fourth quarter valued at approximately $2,140,000. 80.87% of the stock is owned by hedge funds and other institutional investors.

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.