Harvard Bioscience (NASDAQ:HBIO) Stock Dropped to “Hold” by Stonex Financial

Harvard Bioscience (NASDAQ:HBIO) was downgraded by analysts at Stonex Financial from a “moderate buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks reports.

Several other analysts also recently weighed in on the stock. StoneX downgraded shares of Harvard Bioscience from a “speculative buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings raised Harvard Bioscience from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Benchmark increased their price objective on Harvard Bioscience from $6.00 to $7.50 and gave the stock a “speculative buy” rating in a research note on Wednesday, August 12th. Finally, Zacks Research started coverage on Harvard Bioscience in a report on Tuesday, November 3rd. They set a “hold” rating on the stock. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.75.

Harvard Bioscience Stock Down 4.8%

NASDAQ HBIO opened at $9.22 on Wednesday. Harvard Bioscience has a 12 month low of $4.00 and a 12 month high of $10.20. The company’s 50-day moving average price is $8.31 and its 200-day moving average price is $6.57. The company has a debt-to-equity ratio of 7.28, a quick ratio of 0.98 and a current ratio of 1.76.

Harvard Bioscience (NASDAQ:HBIO) last announced its quarterly earnings data on Tuesday, November 10th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.27. The company had revenue of $22.20 million during the quarter, compared to analyst estimates of $21.80 million. Harvard Bioscience had a negative net margin of 13.20% and a negative return on equity of 43.94%. As a group, sell-side analysts expect that Harvard Bioscience will post -2.44 earnings per share for the current year.

Institutional Investors Weigh In On Harvard Bioscience

A hedge fund recently bought a new stake in Harvard Bioscience stock. Citadel Advisors LLC purchased a new position in shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,251 shares of the medical instruments supplier’s stock, valued at approximately $81,000. Citadel Advisors LLC owned about 0.29% of Harvard Bioscience as of its most recent filing with the Securities & Exchange Commission. 80.87% of the stock is owned by institutional investors.

About Harvard Bioscience

Harvard Bioscience, Inc. (NASDAQ: HBIO) develops, manufactures and supplies specialized tools, equipment and consumables used in biomedical research, drug discovery and related life science applications. Its products support work in areas such as cell biology, electrophysiology, gene delivery, organ-on-chip research and preclinical studies. The company’s portfolio includes laboratory instruments, tissue and organ perfusion systems, electrophysiology equipment, cell and molecular biology products, and related consumables.