Harvard Bioscience (NASDAQ:HBIO) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Harvard Bioscience, Inc. (NASDAQ:HBIO)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.84 and traded as high as $6.32. Harvard Bioscience shares last traded at $6.23, with a volume of 14,399 shares trading hands.

Analysts Set New Price Targets

HBIO has been the topic of several research reports. Wall Street Zen cut Harvard Bioscience from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Harvard Bioscience in a research report on Wednesday, June 24th. One research 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, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

Harvard Bioscience Stock Up 4.7%

The stock’s fifty day simple moving average is $5.99 and its two-hundred day simple moving average is $5.84. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.99 and a quick ratio of 1.06. The company has a market capitalization of $28.10 million, a price-to-earnings ratio of -2.87 and a beta of 1.49.

Harvard Bioscience (NASDAQ:HBIO) last posted its quarterly earnings results on Tuesday, May 12th. The medical instruments supplier reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.29. Harvard Bioscience had a negative net margin of 11.44% and a negative return on equity of 25.78%. The business had revenue of $20.75 million during the quarter, compared to analyst estimates of $21.20 million.

Hedge Funds Weigh In On Harvard Bioscience

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of Harvard Bioscience during the 4th quarter worth approximately $40,000. XTX Topco Ltd acquired a new position in Harvard Bioscience during the 4th quarter valued at approximately $26,000. Corsair Capital Management L.P. grew its stake in Harvard Bioscience by 1,008.7% during the 4th quarter. Corsair Capital Management L.P. now owns 1,108,692 shares of the medical instruments supplier’s stock worth $741,000 after buying an additional 1,008,692 shares during the last quarter. Meros Investment Management LP grew its stake in Harvard Bioscience by 32.6% during the 4th quarter. Meros Investment Management LP now owns 1,217,628 shares of the medical instruments supplier’s stock worth $814,000 after buying an additional 299,369 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Harvard Bioscience in the fourth quarter worth $124,000. 80.87% of the stock is owned by institutional investors.

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.