Harvard Bioscience (NASDAQ:HBIO) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of 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 $6.04 and traded as high as $8.40. Harvard Bioscience shares last traded at $8.20, with a volume of 36,449 shares traded.

Analyst Ratings Changes

HBIO has been the subject of several analyst reports. Benchmark lifted their price objective on Harvard Bioscience from $6.00 to $7.50 and gave the company a “speculative buy” rating in a report on Wednesday, August 12th. Weiss Ratings downgraded Harvard Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. 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, Harvard Bioscience presently has a consensus rating of “Hold” and a consensus target price of $6.75.

Harvard Bioscience Price Performance

The business’s 50 day moving average is $6.59 and its two-hundred day moving average is $6.05. The firm has a market cap of $36.24 million, a P/E ratio of -3.45 and a beta of 1.53. The company has a quick ratio of 0.98, a current ratio of 1.87 and a debt-to-equity ratio of 4.94.

Harvard Bioscience (NASDAQ:HBIO) last issued its quarterly earnings results on Tuesday, August 11th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Harvard Bioscience had a negative net margin of 11.86% and a negative return on equity of 33.13%. The business had revenue of $22.73 million for the quarter, compared to analysts’ expectations of $21.45 million.

Institutional Investors Weigh In On Harvard Bioscience

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake 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 valued at $82,000 after buying an additional 11,948 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Harvard Bioscience during the 2nd quarter worth approximately $81,000. Geode Capital Management LLC increased its stake in shares of Harvard Bioscience by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 460,793 shares of the medical instruments supplier’s stock valued at $308,000 after acquiring an additional 18,923 shares in the last quarter. Legato Capital Management LLC increased its stake in shares of Harvard Bioscience by 210.4% in the 4th 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. Finally, Goldman Sachs Group Inc. lifted 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 valued at $33,000 after acquiring an additional 37,057 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.

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.