Harvard Bioscience, Inc. (NASDAQ:HBIO) Sees Large Increase in Short Interest

Harvard Bioscience, Inc. (NASDAQ:HBIO) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,585,500 shares, a growth of 55.1% from the July 31st total of 1,022,300 shares. Approximately 4.7% of the company’s shares are short sold. Based on an average daily trading volume, of 549,500 shares, the short-interest ratio is presently 2.9 days.

HBIO has been the topic of several recent research reports. ValuEngine upgraded shares of Harvard Bioscience from a “sell” rating to a “hold” rating in a report on Wednesday. Janney Montgomery Scott lowered shares of Harvard Bioscience from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a report on Monday, July 8th. Zacks Investment Research lowered shares of Harvard Bioscience from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Benchmark restated a “buy” rating on shares of Harvard Bioscience in a report on Friday, July 19th.

Shares of NASDAQ:HBIO traded up $0.04 during midday trading on Thursday, hitting $3.11. 40,699 shares of the company’s stock traded hands, compared to its average volume of 301,146. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.30 and a current ratio of 2.52. The company has a market cap of $114.14 million, a PE ratio of 20.72 and a beta of 1.53. The firm’s fifty day moving average price is $2.51 and its two-hundred day moving average price is $2.89. Harvard Bioscience has a twelve month low of $1.51 and a twelve month high of $5.89.

Harvard Bioscience (NASDAQ:HBIO) last posted its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The business had revenue of $29.58 million for the quarter, compared to analyst estimates of $29.30 million. Harvard Bioscience had a negative net margin of 0.46% and a positive return on equity of 5.24%. As a group, equities research analysts anticipate that Harvard Bioscience will post 0.11 EPS for the current fiscal year.

In other Harvard Bioscience news, CEO James W. Green bought 20,000 shares of Harvard Bioscience stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $2.47 per share, for a total transaction of $49,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Katherine A. Eade bought 39,915 shares of Harvard Bioscience stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $2.48 per share, for a total transaction of $98,989.20. The disclosure for this purchase can be found here. Insiders have bought a total of 89,915 shares of company stock valued at $223,889 over the last three months. Corporate insiders own 5.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of HBIO. Bank of America Corp DE lifted its holdings in Harvard Bioscience by 7.6% in the 4th quarter. Bank of America Corp DE now owns 82,642 shares of the medical instruments supplier’s stock worth $262,000 after buying an additional 5,835 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Harvard Bioscience by 635.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,567 shares of the medical instruments supplier’s stock worth $33,000 after buying an additional 6,538 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Harvard Bioscience by 64.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 236,095 shares of the medical instruments supplier’s stock worth $1,018,000 after buying an additional 92,152 shares in the last quarter. Cadence Capital Management LLC lifted its holdings in Harvard Bioscience by 1.8% in the 1st quarter. Cadence Capital Management LLC now owns 520,945 shares of the medical instruments supplier’s stock worth $2,245,000 after buying an additional 9,109 shares in the last quarter. Finally, Falcon Point Capital LLC acquired a new position in Harvard Bioscience in the 1st quarter worth $450,000. Hedge funds and other institutional investors own 65.39% of the company’s stock.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc provides scientific instruments, systems, software, and services used in life science basic research, drug discovery, and clinical and environmental testing. The company offers physiology, cell, and molecular instruments, such as traditional syringe pump and peristaltic pump products, as well as a range of instruments and accessories for tissue, organ, and animal based lab research under the Harvard Apparatus, CMA Microdialysis, Panlab, Coulbourn, and Hugo Sachs brands; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, sample preparation plates and columns, and electroporation and electrofusion instruments under the Biochrom, BioDrop, Hoefer, Scie-plas, QuikPrep, and BTX brands.

See Also: Outstanding Shares and The Effect on Share Price

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