Harvard Bioscience (NASDAQ:HBIO) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

HBIO has been the topic of a number of recent research reports. Wall Street Zen lowered Harvard Bioscience from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Benchmark cut their price objective on shares of 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. Weiss Ratings restated a “sell (d-)” rating on shares of Harvard Bioscience in a research report on Wednesday, June 24th. Finally, New Street Research set a $6.00 price target on shares of Harvard Bioscience in a report on Friday, March 13th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Harvard Bioscience Price Performance

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 50-day moving average price of $6.10 and a 200 day moving average price of $5.91. The stock has a market capitalization of $27.74 million, a price-to-earnings ratio of -2.83 and a beta of 1.49.

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

Hedge Funds Weigh In On Harvard Bioscience

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its position 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 acquiring an additional 11,948 shares during the period. Acadian Asset Management LLC lifted its holdings in Harvard Bioscience by 7.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,077,069 shares of the medical instruments supplier’s stock worth $606,000 after buying an additional 78,276 shares in the last quarter. Strs Ohio acquired a new position in shares of Harvard Bioscience in the first quarter worth $117,000. Marshall Wace LLP purchased a new stake in shares of Harvard Bioscience during the second quarter worth $61,000. Finally, Jane Street Group LLC boosted its stake 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 valued at $31,000 after buying an additional 58,785 shares during the period. 80.87% of the stock is owned by hedge funds and other institutional investors.

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.