Wall Street Zen Upgrades Harvard Bioscience (NASDAQ:HBIO) to Buy

Harvard Bioscience (NASDAQ:HBIO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Benchmark lowered their price target on Harvard Bioscience from $4.50 to $3.00 and set a “speculative buy” rating for the company in a report on Tuesday, May 13th.

Harvard Bioscience Stock Up 8.1%

Shares of HBIO opened at $0.53 on Friday. The stock has a 50 day moving average price of $0.49 and a 200 day moving average price of $0.61. The company has a market capitalization of $23.56 million, a price-to-earnings ratio of -0.41 and a beta of 1.54. Harvard Bioscience has a 52-week low of $0.28 and a 52-week high of $3.27.

Hedge Funds Weigh In On Harvard Bioscience

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBIO. AMH Equity Ltd boosted its holdings in shares of Harvard Bioscience by 3.6% in the second quarter. AMH Equity Ltd now owns 3,508,703 shares of the medical instruments supplier’s stock valued at $1,557,000 after acquiring an additional 121,348 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Harvard Bioscience by 7.8% in the first quarter. Acadian Asset Management LLC now owns 1,077,069 shares of the medical instruments supplier’s stock valued at $606,000 after acquiring an additional 78,276 shares during the period. Pasadena Private Wealth LLC boosted its holdings in shares of Harvard Bioscience by 23.2% in the second quarter. Pasadena Private Wealth LLC now owns 243,911 shares of the medical instruments supplier’s stock valued at $108,000 after acquiring an additional 45,872 shares during the period. Strs Ohio acquired a new stake in shares of Harvard Bioscience in the first quarter valued at approximately $117,000. Finally, Nuveen LLC acquired a new stake in shares of Harvard Bioscience in the first quarter valued at approximately $79,000. 80.87% of the stock is owned by institutional investors and hedge funds.

About Harvard Bioscience

Harvard Bioscience, Inc develops, manufactures, and sells technologies, products, and services for life science applications in the United States and internationally. The company offers cellular and molecular technology products, such as syringe and peristaltic infusion pump products; electroporation and electrofusion instruments, amino acid analyzers, spectrophotometers, and other equipment for molecular level testing and research; and precision scientific measuring instrumentation and equipment, including data acquisition systems for cellular analysis, complete micro electrode array solutions for in vivo recordings, and in vitro systems for extracellular recordings.