Harvard Bioscience (NASDAQ:HBIO) Stock Rating Cut to “Hold” at Stonex Financial

Stonex Financial lowered shares of Harvard Bioscience (NASDAQ:HBIO) from a moderate buy rating to a hold rating in a report issued on Wednesday,Zacks reports.

Other analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Harvard Bioscience from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Zacks Research assumed coverage on Harvard Bioscience in a research report on Tuesday, November 3rd. They set a “hold” rating on the stock. Benchmark upped their target price on Harvard Bioscience from $6.00 to $7.50 and gave the stock a “speculative buy” rating in a report on Wednesday, August 12th. Finally, StoneX lowered Harvard Bioscience from a “speculative buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.75.

Harvard Bioscience Stock Down 4.8%

Shares of Harvard Bioscience stock opened at $9.22 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 0.98 and a debt-to-equity ratio of 7.28. Harvard Bioscience has a 12-month low of $4.00 and a 12-month high of $10.20. The company has a market cap of $42.14 million, a P/E ratio of -3.56 and a beta of 1.47. The company’s fifty day simple moving average is $8.31 and its two-hundred day simple moving average is $6.57.

Harvard Bioscience (NASDAQ:HBIO) last posted its earnings results on Tuesday, November 10th. The medical instruments supplier reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.27. The firm had revenue of $22.20 million during the quarter, compared to analysts’ expectations of $21.80 million. Harvard Bioscience had a negative net margin of 13.20% and a negative return on equity of 43.94%. Research analysts anticipate that Harvard Bioscience will post -2.44 EPS for the current year.

Hedge Funds Weigh In On Harvard Bioscience

An institutional investor recently bought a new stake in Harvard Bioscience stock. Meros Investment Management LP bought a new stake in shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 182,992 shares of the medical instruments supplier’s stock, valued at approximately $1,125,401. Meros Investment Management LP owned approximately 4.02% of Harvard Bioscience at the end of the most recent quarter. Hedge funds and other institutional investors own 80.87% of the company’s stock.

About Harvard Bioscience

Harvard Bioscience, Inc. (NASDAQ: HBIO) develops, manufactures and supplies specialized tools, equipment and consumables used in biomedical research, drug discovery and related life science applications. Its products support work in areas such as cell biology, electrophysiology, gene delivery, organ-on-chip research and preclinical studies. The company’s portfolio includes laboratory instruments, tissue and organ perfusion systems, electrophysiology equipment, cell and molecular biology products, and related consumables.