Harvard Bioscience, Inc. (NASDAQ:HBIO) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 1,108,600 shares, a growth of 25.0% from the April 30th total of 887,200 shares. Currently, 3.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 194,600 shares, the days-to-cover ratio is presently 5.7 days.
Shares of Harvard Bioscience stock traded down $0.02 during trading on Thursday, hitting $2.00. 4,227 shares of the company were exchanged, compared to its average volume of 368,380. The firm has a market capitalization of $76.13 million, a P/E ratio of 13.37 and a beta of 1.69. Harvard Bioscience has a 1-year low of $1.91 and a 1-year high of $6.70. The company has a current ratio of 2.22, a quick ratio of 1.12 and a debt-to-equity ratio of 0.79.
Harvard Bioscience (NASDAQ:HBIO) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The company had revenue of $28.23 million during the quarter, compared to analyst estimates of $28.50 million. Harvard Bioscience had a positive return on equity of 5.95% and a negative net margin of 1.45%. Research analysts anticipate that Harvard Bioscience will post 0.09 EPS for the current fiscal year.
In related news, CEO Jeffrey Duchemin sold 6,332 shares of Harvard Bioscience stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $4.50, for a total value of $28,494.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of HBIO. Vanguard Group Inc. raised its position in Harvard Bioscience by 16.3% during the third quarter. Vanguard Group Inc. now owns 1,812,401 shares of the medical instruments supplier’s stock worth $9,515,000 after acquiring an additional 254,493 shares during the last quarter. Rhumbline Advisers raised its position in Harvard Bioscience by 47.9% during the fourth quarter. Rhumbline Advisers now owns 48,908 shares of the medical instruments supplier’s stock worth $156,000 after acquiring an additional 15,839 shares during the last quarter. BlackRock Inc. raised its position in Harvard Bioscience by 2.5% during the fourth quarter. BlackRock Inc. now owns 3,067,176 shares of the medical instruments supplier’s stock worth $9,754,000 after acquiring an additional 73,423 shares during the last quarter. Bank of New York Mellon Corp raised its position in Harvard Bioscience by 7.8% during the fourth quarter. Bank of New York Mellon Corp now owns 110,661 shares of the medical instruments supplier’s stock worth $352,000 after acquiring an additional 8,013 shares during the last quarter. Finally, Royce & Associates LP raised its position in Harvard Bioscience by 8.2% during the fourth quarter. Royce & Associates LP now owns 1,730,200 shares of the medical instruments supplier’s stock worth $5,502,000 after acquiring an additional 130,500 shares during the last quarter. Institutional investors own 74.71% of the company’s stock.
A number of analysts recently commented on HBIO shares. Zacks Investment Research lowered Harvard Bioscience from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. ValuEngine upgraded Harvard Bioscience from a “hold” rating to a “buy” rating in a research report on Saturday, February 23rd.
About Harvard Bioscience
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.
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