Harvard Bioscience (NASDAQ:HBIO) Stock Rating Lowered by Stonex Financial

Harvard Bioscience (NASDAQ:HBIO) was downgraded by equities research analysts at Stonex Financial from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.

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

Harvard Bioscience Stock Down 4.8%

Harvard Bioscience stock opened at $9.22 on Wednesday. The company has a market cap of $42.14 million, a P/E ratio of -3.56 and a beta of 1.47. Harvard Bioscience has a 1-year low of $4.00 and a 1-year high of $10.20. The company has a fifty day simple moving average of $8.31 and a 200 day simple moving average of $6.57. 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 (NASDAQ:HBIO) last issued its quarterly 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. Harvard Bioscience had a negative net margin of 13.20% and a negative return on equity of 43.94%. The firm had revenue of $22.20 million for the quarter, compared to analysts’ expectations of $21.80 million. Research analysts anticipate that Harvard Bioscience will post -2.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Harvard Bioscience stock. Meros Investment Management LP acquired a new position in shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 182,992 shares of the medical instruments supplier’s stock, valued at approximately $1,125,401. Meros Investment Management LP owned about 4.02% of Harvard Bioscience at the end of the most recent reporting period. 80.87% of the stock is currently owned by hedge funds and other institutional investors.

Harvard Bioscience Company Profile

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.