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

Harvard Bioscience, Inc. (NASDAQ:HBIO) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 810,900 shares, a drop of 11.1% from the September 30th total of 912,300 shares. Based on an average daily volume of 158,200 shares, the days-to-cover ratio is presently 5.1 days. Currently, 2.4% of the shares of the company are sold short.

HBIO stock traded up $0.18 during trading on Monday, hitting $3.13. The company had a trading volume of 125,400 shares, compared to its average volume of 267,804. The company has a fifty day moving average price of $2.85 and a two-hundred day moving average price of $2.53. The company has a current ratio of 2.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.78. The company has a market cap of $104.68 million, a P/E ratio of 20.87 and a beta of 1.49. Harvard Bioscience has a fifty-two week low of $1.51 and a fifty-two week high of $4.66.

Several analysts recently commented on HBIO shares. ValuEngine lowered Harvard Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Zacks Investment Research raised Harvard Bioscience from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Tuesday, November 12th.

In related news, CEO James W. Green purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $2.61 per share, with a total value of $26,100.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bertrand Loy purchased 12,855 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $2.59 per share, for a total transaction of $33,294.45. The disclosure for this purchase can be found here. Insiders have bought a total of 78,533 shares of company stock worth $212,686 in the last three months. 5.40% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in Harvard Bioscience by 401.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,752 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 11,011 shares in the last quarter. Susquehanna International Group LLP bought a new position in Harvard Bioscience in the 2nd quarter valued at $34,000. Jefferies Group LLC bought a new position in Harvard Bioscience in the 2nd quarter valued at $36,000. Pasadena Private Wealth LLC bought a new position in Harvard Bioscience in the 3rd quarter valued at $78,000. Finally, Citadel Advisors LLC bought a new position in Harvard Bioscience in the 2nd quarter valued at $118,000. 60.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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