Harvard Bioscience (NASDAQ:HBIO) Stock Passes Below 200-Day Moving Average – Here’s Why

Harvard Bioscience, Inc. (NASDAQ:HBIO)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.69 and traded as low as $4.56. Harvard Bioscience shares last traded at $4.66, with a volume of 47,204 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on HBIO shares. Benchmark cut their target price on shares of Harvard Bioscience from $20.00 to $6.00 and set a “speculative buy” rating on the stock in a research report on Friday, March 13th. New Street Research set a $6.00 price target on shares of Harvard Bioscience in a research report on Friday, March 13th. Zacks Research raised 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 report on Friday. Finally, Wall Street Zen cut shares of Harvard Bioscience from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Harvard Bioscience currently has an average rating of “Hold” and an average target price of $6.00.

Harvard Bioscience Price Performance

The company has a fifty day moving average of $5.45 and a 200 day moving average of $5.69. The firm has a market capitalization of $20.83 million, a P/E ratio of -0.36 and a beta of 1.50. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.20 and a quick ratio of 1.25.

Insider Buying and Selling

In other news, CEO John D. Duke purchased 5,000 shares of the business’s stock in a transaction on Monday, March 16th. The shares were acquired at an average price of $5.01 per share, with a total value of $25,050.00. Following the completion of the transaction, the chief executive officer owned 105,000 shares of the company’s stock, valued at $526,050. The trade was a 5.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Snider purchased 12,525 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were acquired at an average price of $4.99 per share, with a total value of $62,499.75. Following the completion of the acquisition, the director owned 23,525 shares in the company, valued at approximately $117,389.75. This trade represents a 113.86% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 36,000 shares of company stock valued at $177,354 over the last quarter. Insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HBIO. Bank of America Corp DE boosted its position in shares of Harvard Bioscience by 44.4% during the 4th quarter. Bank of America Corp DE now owns 38,883 shares of the medical instruments supplier’s stock valued at $82,000 after purchasing an additional 11,948 shares in the last quarter. Geode Capital Management LLC increased its holdings in Harvard Bioscience by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 460,793 shares of the medical instruments supplier’s stock worth $308,000 after purchasing an additional 18,923 shares in the last quarter. Legato Capital Management LLC increased its holdings in Harvard Bioscience by 210.4% in the fourth quarter. Legato Capital Management LLC now owns 43,467 shares of the medical instruments supplier’s stock worth $29,000 after purchasing an additional 29,462 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Harvard Bioscience by 291.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 49,751 shares of the medical instruments supplier’s stock valued at $33,000 after buying an additional 37,057 shares during the period. Finally, XTX Topco Ltd acquired a new position in Harvard Bioscience in the fourth quarter valued at approximately $26,000. 80.87% of the stock is owned by institutional investors and hedge funds.

Harvard Bioscience Company Profile

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.