Harvard Bioscience (NASDAQ:HBIO) Shares Set to Reverse Split on Monday, March 16th
by Mitch Edgeman · The Markets DailyHarvard Bioscience, Inc. (NASDAQ:HBIO – Free Report)’s stock is going to reverse split before the market opens on Monday, March 16th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 15th.
Harvard Bioscience Trading Down 4.3%
HBIO opened at $0.51 on Thursday. The company has a market cap of $22.68 million, a price-to-earnings ratio of -0.42 and a beta of 1.51. The company’s 50 day moving average is $0.58 and its 200 day moving average is $0.57. Harvard Bioscience has a 12-month low of $0.28 and a 12-month high of $0.95.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on HBIO shares. Zacks Research upgraded shares of Harvard Bioscience to a “hold” rating in a research note on Thursday, December 11th. Wall Street Zen upgraded Harvard Bioscience from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Harvard Bioscience in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.00.
View Our Latest Research Report on Harvard Bioscience
Hedge Funds Weigh In On Harvard Bioscience
Several large investors have recently added to or reduced their stakes in the company. AMH Equity Ltd boosted its position in shares of Harvard Bioscience by 15.4% in the third quarter. AMH Equity Ltd now owns 4,047,535 shares of the medical instruments supplier’s stock worth $1,775,000 after purchasing an additional 538,832 shares during the period. Weber Capital Management LLC ADV purchased a new stake in shares of Harvard Bioscience in the fourth quarter worth $2,140,000. Meros Investment Management LP raised its position in shares of Harvard Bioscience by 32.6% during the 4th quarter. Meros Investment Management LP now owns 1,217,628 shares of the medical instruments supplier’s stock valued at $814,000 after purchasing an additional 299,369 shares during the period. Corsair Capital Management L.P. lifted its stake in shares of Harvard Bioscience by 1,008.7% during the 4th quarter. Corsair Capital Management L.P. now owns 1,108,692 shares of the medical instruments supplier’s stock valued at $741,000 after buying an additional 1,008,692 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Harvard Bioscience by 7.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,077,069 shares of the medical instruments supplier’s stock valued at $606,000 after buying an additional 78,276 shares in the last quarter. Hedge funds and other institutional investors own 80.87% of the company’s stock.
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.