Harvard Bioscience, Inc. (NASDAQ:HBIO) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 810,900 shares, a decrease of 11.1% from the September 30th total of 912,300 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average trading volume of 158,200 shares, the short-interest ratio is presently 5.1 days.
A number of equities research analysts recently issued reports on the company. ValuEngine lowered Harvard Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Benchmark reaffirmed a “buy” rating on shares of Harvard Bioscience in a research note on Friday, July 19th. Finally, Zacks Investment Research raised Harvard Bioscience from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Tuesday.
In related news, Director Bertrand Loy bought 15,590 shares of Harvard Bioscience stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average price of $3.01 per share, with a total value of $46,925.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas W. Loewald bought 20,000 shares of Harvard Bioscience stock in a transaction that occurred on Tuesday, August 20th. The stock was bought at an average cost of $2.53 per share, for a total transaction of $50,600.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 78,533 shares of company stock worth $212,686. Insiders own 5.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in Harvard Bioscience by 401.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,752 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 11,011 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Harvard Bioscience in the 2nd quarter valued at $34,000. Jefferies Group LLC acquired a new stake in Harvard Bioscience in the 2nd quarter valued at $36,000. Pasadena Private Wealth LLC acquired a new stake in Harvard Bioscience in the 3rd quarter valued at $78,000. Finally, Citadel Advisors LLC acquired a new stake in Harvard Bioscience in the 2nd quarter valued at $118,000. Hedge funds and other institutional investors own 61.74% of the company’s stock.
HBIO stock traded up $0.20 on Friday, reaching $2.95. The company had a trading volume of 133,000 shares, compared to its average volume of 110,847. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.30 and a current ratio of 2.41. The company has a market cap of $93.26 million, a P/E ratio of 19.67 and a beta of 1.49. The company’s fifty day moving average is $2.85 and its 200 day moving average is $2.53. Harvard Bioscience has a 1 year low of $1.51 and a 1 year high of $4.66.
Harvard Bioscience Company Profile
Harvard Bioscience, Inc provides scientific instruments, systems, software, and services used in life science basic research, drug discovery, and clinical and environmental testing. The company offers physiology, cell, and molecular instruments, such as traditional syringe pump and peristaltic pump products, as well as a range of instruments and accessories for tissue, organ, and animal based lab research under the Harvard Apparatus, CMA Microdialysis, Panlab, Coulbourn, and Hugo Sachs brands; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, sample preparation plates and columns, and electroporation and electrofusion instruments under the Biochrom, BioDrop, Hoefer, Scie-plas, QuikPrep, and BTX brands.
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