Harvard Bioscience, Inc. (NASDAQ:HBIO) Short Interest Up 187.2% in April
by Scott Moore · The Cerbat GemHarvard Bioscience, Inc. (NASDAQ:HBIO – Get Free Report) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totaling 243,452 shares, a growth of 187.2% from the March 31st total of 84,759 shares. Approximately 6.8% of the company’s stock are short sold. Based on an average trading volume of 98,327 shares, the short-interest ratio is currently 2.5 days.
Analysts Set New Price Targets
Several equities analysts recently commented on HBIO shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Harvard Bioscience in a research report on Friday, March 27th. Wall Street Zen lowered Harvard Bioscience from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Benchmark reduced their price target on Harvard Bioscience from $20.00 to $6.00 and set a “speculative buy” rating on the stock in a research report on Friday, March 13th. Finally, New Street Research set a $6.00 price target on Harvard Bioscience in a research report on Friday, March 13th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.00.
Check Out Our Latest Stock Report on HBIO
Harvard Bioscience Stock Up 1.2%
Shares of HBIO traded up $0.08 during trading on Friday, reaching $6.86. The company’s stock had a trading volume of 16,933 shares, compared to its average volume of 74,041. The company has a fifty day moving average of $5.52 and a two-hundred day moving average of $5.82. Harvard Bioscience has a twelve month low of $2.81 and a twelve month high of $9.50. The company has a market cap of $30.94 million, a price-to-earnings ratio of -0.54 and a beta of 1.50. The company has a quick ratio of 1.25, a current ratio of 2.20 and a debt-to-equity ratio of 2.61.
Insider Buying and Selling
In related news, CEO John D. Duke purchased 5,000 shares of Harvard Bioscience stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average cost of $5.01 per share, with a total value of $25,050.00. Following the transaction, the chief executive officer owned 105,000 shares of the company’s stock, valued at approximately $526,050. The trade was a 5.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen J. Denelsky purchased 10,000 shares of Harvard Bioscience stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the completion of the transaction, the director directly owned 21,000 shares in the company, valued at $102,270. This represents a 90.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 36,000 shares of company stock valued at $177,354. Corporate insiders own 20.30% of the company’s stock.
Hedge Funds Weigh In On Harvard Bioscience
A number of institutional investors have recently made changes to their positions in HBIO. XTX Topco Ltd acquired a new position in shares of Harvard Bioscience in the 4th quarter valued at approximately $26,000. Legato Capital Management LLC raised its position in shares of Harvard Bioscience by 210.4% in the 4th quarter. Legato Capital Management LLC now owns 43,467 shares of the medical instruments supplier’s stock valued at $29,000 after purchasing an additional 29,462 shares in the last quarter. Jane Street Group LLC raised its position in shares of Harvard Bioscience by 491.9% in the 2nd quarter. Jane Street Group LLC now owns 70,736 shares of the medical instruments supplier’s stock valued at $31,000 after purchasing an additional 58,785 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Harvard Bioscience by 291.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 49,751 shares of the medical instruments supplier’s stock valued at $33,000 after acquiring an additional 37,057 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Harvard Bioscience in the 4th quarter valued at approximately $38,000. 80.87% of the stock is owned by institutional investors and hedge funds.
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.