Wall Street Zen Downgrades Harvard Bioscience (NASDAQ:HBIO) to Hold

by · The Cerbat Gem

Harvard Bioscience (NASDAQ:HBIO – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other analysts also recently issued reports on HBIO. Benchmark lowered their price target on Harvard Bioscience from $3.00 to $2.00 and set a “speculative buy” rating for the company in a report on Wednesday, September 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harvard Bioscience in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Harvard Bioscience currently has a consensus rating of “Hold” and a consensus target price of $2.00.

Read Our Latest Research Report on HBIO

Harvard Bioscience Stock Up 7.0%

HBIO opened at $0.58 on Friday. Harvard Bioscience has a 52-week low of $0.28 and a 52-week high of $2.61. The company has a 50 day moving average of $0.46 and a two-hundred day moving average of $0.45. The company has a market cap of $25.88 million, a P/E ratio of -0.45 and a beta of 1.60.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of Harvard Bioscience by 44.4% in the 4th quarter. Bank of America Corp DE now owns 38,883 shares of the medical instruments supplier’s stock valued at $82,000 after purchasing an additional 11,948 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Harvard Bioscience in the first quarter valued at about $33,000. Jane Street Group LLC raised its stake in Harvard Bioscience by 491.9% during the second quarter. Jane Street Group LLC now owns 70,736 shares of the medical instruments supplier’s stock valued at $31,000 after buying an additional 58,785 shares in the last quarter. Deutsche Bank AG raised its stake in Harvard Bioscience by 221.1% during the first quarter. Deutsche Bank AG now owns 75,985 shares of the medical instruments supplier’s stock valued at $43,000 after buying an additional 52,319 shares in the last quarter. Finally, Williams & Novak LLC lifted its holdings in Harvard Bioscience by 37.0% during the 2nd quarter. Williams & Novak LLC now owns 106,570 shares of the medical instruments supplier’s stock worth $47,000 after buying an additional 28,800 shares during the last quarter. 80.87% of the stock is owned by institutional investors and hedge funds.

Harvard Bioscience Company Profile

(Get Free Report)

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.

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