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

Harvard Bioscience, Inc. (NASDAQ:HBIO)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.05 and traded as low as $6.01. Harvard Bioscience shares last traded at $6.01, with a volume of 10,605 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen cut Harvard Bioscience from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. New Street Research set a $6.00 target price on Harvard Bioscience in a report on Friday, March 13th. Benchmark decreased their target price on Harvard Bioscience from $20.00 to $6.00 and set a “speculative buy” rating on the stock in a report on Friday, March 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Harvard Bioscience in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Harvard Bioscience presently has an average rating of “Hold” and a consensus price target of $6.00.

Harvard Bioscience Price Performance

The company has a current ratio of 1.99, a quick ratio of 1.06 and a debt-to-equity ratio of 3.60. The firm has a market cap of $27.96 million, a PE ratio of -2.86 and a beta of 1.53. The stock has a 50 day simple moving average of $5.91 and a 200-day simple moving average of $6.06.

Harvard Bioscience (NASDAQ:HBIO) last released its earnings results on Tuesday, May 12th. The medical instruments supplier reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.29. Harvard Bioscience had a negative return on equity of 25.78% and a negative net margin of 11.44%.The firm had revenue of $20.76 million during the quarter, compared to analysts’ expectations of $21.20 million.

Insider Buying and Selling

In other Harvard Bioscience news, Director William Snider bought 8,475 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was purchased at an average price of $4.85 per share, for a total transaction of $41,103.75. Following the completion of the transaction, the director owned 32,000 shares of the company’s stock, valued at $155,200. This trade represents a 36.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen J. Denelsky bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average price of $4.87 per share, with a total value of $48,700.00. Following the transaction, the director directly owned 21,000 shares of the company’s stock, valued at $102,270. This represents a 90.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 36,000 shares of company stock worth $177,354. 20.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HBIO. Weber Capital Management LLC ADV bought a new position in shares of Harvard Bioscience during the 4th quarter valued at about $2,140,000. Corsair Capital Management L.P. boosted its holdings in shares of 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 valued at $741,000 after purchasing an additional 1,008,692 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Harvard Bioscience during the 4th quarter valued at about $401,000. Meros Investment Management LP boosted its holdings in shares of 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 valued at $814,000 after purchasing an additional 299,369 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of Harvard Bioscience by 139.7% during the 3rd quarter. Two Sigma Investments LP now owns 474,157 shares of the medical instruments supplier’s stock valued at $208,000 after purchasing an additional 276,372 shares during the last quarter. Institutional investors 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.