Harvard Bioscience (NASDAQ:HBIO) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Harvard Bioscience, Inc. (NASDAQ:HBIO)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.22 and traded as high as $8.19. Harvard Bioscience shares last traded at $7.95, with a volume of 19,221 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HBIO shares. Weiss Ratings lowered Harvard Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Benchmark lifted their price target on Harvard Bioscience from $6.00 to $7.50 and gave the stock a “speculative buy” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.75.

Harvard Bioscience Trading Down 1.0%

The stock has a market capitalization of $36.17 million, a P/E ratio of -3.44 and a beta of 1.53. The firm’s 50 day moving average price is $6.99 and its 200 day moving average price is $6.22. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.87 and a quick ratio of 0.98.

Harvard Bioscience (NASDAQ:HBIO) last posted its earnings results on Tuesday, August 11th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. The company had revenue of $22.73 million for the quarter, compared to analysts’ expectations of $21.45 million. Harvard Bioscience had a negative return on equity of 33.13% and a negative net margin of 11.86%.

Hedge Funds Weigh In On Harvard Bioscience

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC bought a new stake in Harvard Bioscience in the second quarter valued at $81,000. Legato Capital Management LLC raised its stake 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 buying an additional 29,462 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in Harvard Bioscience in the fourth quarter worth about $38,000. Finally, Meros Investment Management LP purchased a new stake in Harvard Bioscience in the second quarter worth about $1,125,401. Institutional investors own 80.87% of the company’s stock.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc develops, manufactures and sells specialized tools and equipment used in life-science research. Its products support applications including drug discovery, preclinical research, cell and tissue studies, electrophysiology, organ and perfusion research, and regenerative medicine.

The company’s portfolio includes laboratory instruments, systems, consumables and related accessories for measuring, controlling and analyzing biological processes. Its offerings are used by academic and government research institutions, pharmaceutical and biotechnology companies, contract research organizations, and other laboratories.

Harvard Bioscience traces its history to Harvard Apparatus, which was established in 1901.