StockNews.com Lowers Harvard Bioscience (NASDAQ:HBIO) to Hold

Harvard Bioscience (NASDAQ:HBIO) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Harvard Bioscience Stock Down 3.3 %

NASDAQ:HBIO traded down $0.12 during mid-day trading on Thursday, hitting $3.56. The company had a trading volume of 115,411 shares, compared to its average volume of 88,817. The business has a fifty day simple moving average of $4.11 and a 200-day simple moving average of $4.44. The firm has a market capitalization of $154.50 million, a price-to-earnings ratio of -44.50 and a beta of 1.45. Harvard Bioscience has a 1 year low of $3.44 and a 1 year high of $6.20. The company has a current ratio of 1.85, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42.

Harvard Bioscience (NASDAQ:HBIO) last announced its earnings results on Thursday, March 7th. The medical instruments supplier reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $28.15 million for the quarter, compared to analysts’ expectations of $27.80 million. Harvard Bioscience had a negative net margin of 3.04% and a positive return on equity of 2.75%. Equities analysts forecast that Harvard Bioscience will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. B. Riley Asset Management LLC increased its stake in Harvard Bioscience by 6.5% during the 3rd quarter. B. Riley Asset Management LLC now owns 3,262,995 shares of the medical instruments supplier’s stock worth $14,031,000 after buying an additional 200,032 shares during the period. AMH Equity Ltd increased its position in shares of Harvard Bioscience by 7.5% during the first quarter. AMH Equity Ltd now owns 2,324,200 shares of the medical instruments supplier’s stock worth $9,855,000 after acquiring an additional 161,307 shares during the last quarter. Acuitas Investments LLC lifted its stake in shares of Harvard Bioscience by 35.0% in the fourth quarter. Acuitas Investments LLC now owns 326,516 shares of the medical instruments supplier’s stock worth $1,747,000 after acquiring an additional 84,735 shares in the last quarter. Corsair Capital Management L.P. purchased a new position in Harvard Bioscience in the fourth quarter valued at about $356,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Harvard Bioscience by 64.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 161,819 shares of the medical instruments supplier’s stock valued at $696,000 after purchasing an additional 63,174 shares in the last quarter. 80.87% of the stock is owned by institutional investors and hedge funds.

About Harvard Bioscience

Harvard Bioscience, Inc develops, manufactures, and sells technologies, products, and services for life science applications in the United States and internationally. The company offers cellular and molecular technology products, such as syringe and peristaltic infusion pump products; electroporation and electrofusion instruments, amino acid analyzers, spectrophotometers, and other equipment for molecular level testing and research; and precision scientific measuring instrumentation and equipment, including data acquisition systems for cellular analysis, complete micro electrode array solutions for in vivo recordings, and in vitro systems for extracellular recordings.