Harvard Bioscience (NASDAQ:HBIO) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Harvard Bioscience, Inc. (NASDAQ:HBIO) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.84 and traded as high as $6.32. Harvard Bioscience shares last traded at $6.23, with a volume of 14,399 shares trading hands.

Wall Street Analyst Weigh In

HBIO has been the topic of a number of analyst reports. Wall Street Zen cut shares of Harvard Bioscience from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Harvard Bioscience in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.00.

Harvard Bioscience Trading Up 4.7%

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 $28.10 million, a price-to-earnings ratio of -2.87 and a beta of 1.49. The firm has a 50-day moving average of $5.99 and a 200 day moving average of $5.84.

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 the consensus estimate of ($0.62) by $0.29. Harvard Bioscience had a negative return on equity of 25.78% and a negative net margin of 11.44%.The firm had revenue of $20.75 million for the quarter, compared to the consensus estimate of $21.20 million.

Institutional Investors Weigh In On Harvard Bioscience

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in Harvard Bioscience by 44.4% in the fourth quarter. Bank of America Corp DE now owns 38,883 shares of the medical instruments supplier’s stock worth $82,000 after purchasing an additional 11,948 shares during the period. XTX Topco Ltd acquired a new position in Harvard Bioscience during the 4th quarter valued at about $26,000. Legato Capital Management LLC raised its position 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 worth $29,000 after buying an additional 29,462 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Harvard Bioscience by 291.9% during the 4th 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 bought a new stake in shares of Harvard Bioscience during the 4th quarter worth about $38,000. 80.87% of the stock is currently owned by 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.