Harvard Bioscience (NASDAQ:HBIO) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Harvard Bioscience, Inc. (NASDAQ:HBIO)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.71 and traded as low as $5.28. Harvard Bioscience shares last traded at $5.40, with a volume of 17,743 shares.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. New Street Research set a $6.00 price target on shares of Harvard Bioscience in a research note on Friday, March 13th. Zacks Research upgraded shares of Harvard Bioscience to a “hold” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Harvard Bioscience in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Harvard Bioscience from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Benchmark reduced their price objective on shares of Harvard Bioscience from $20.00 to $6.00 and set a “speculative buy” rating for the company in a research report on Friday, March 13th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.00.

Harvard Bioscience Stock Down 2.4%

The firm has a market cap of $24.14 million, a PE ratio of -0.42 and a beta of 1.50. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.25 and a current ratio of 2.20. The firm’s 50-day moving average price is $5.36 and its two-hundred day moving average price is $5.71.

Insider Transactions at Harvard Bioscience

In related news, Director William Snider acquired 8,475 shares of Harvard Bioscience stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average price of $4.85 per share, for a total transaction of $41,103.75. Following the transaction, the director owned 32,000 shares of the company’s stock, valued at $155,200. This represents a 36.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen J. Denelsky bought 10,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the acquisition, the director directly owned 21,000 shares in the company, valued at approximately $102,270. This trade represents a 90.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 36,000 shares of company stock worth $177,354. 20.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Harvard Bioscience

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Harvard Bioscience in the 4th quarter valued at $40,000. XTX Topco Ltd acquired a new position in shares of Harvard Bioscience in the 4th quarter valued at $26,000. Corsair Capital Management L.P. increased its holdings in shares of Harvard Bioscience by 1,008.7% in the 4th quarter. Corsair Capital Management L.P. now owns 1,108,692 shares of the medical instruments supplier’s stock valued at $741,000 after acquiring an additional 1,008,692 shares during the period. Meros Investment Management LP increased its holdings in shares of Harvard Bioscience by 32.6% in the 4th quarter. Meros Investment Management LP now owns 1,217,628 shares of the medical instruments supplier’s stock valued at $814,000 after acquiring an additional 299,369 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Harvard Bioscience in the 4th quarter valued at $124,000. 80.87% of the stock is owned by institutional investors and hedge funds.

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.