Short Interest in Harvard Bioscience, Inc. (NASDAQ:HBIO) Increases By 25.0%

Harvard Bioscience, Inc. (NASDAQ:HBIO) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,108,600 shares, an increase of 25.0% from the April 30th total of 887,200 shares. Based on an average trading volume of 194,600 shares, the short-interest ratio is currently 5.7 days. Approximately 3.4% of the shares of the company are short sold.

In other news, CEO Jeffrey Duchemin sold 6,332 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $4.50, for a total value of $28,494.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of HBIO. BNP Paribas Arbitrage SA lifted its position in Harvard Bioscience by 635.4% in the first quarter. BNP Paribas Arbitrage SA now owns 7,567 shares of the medical instruments supplier’s stock worth $33,000 after purchasing an additional 6,538 shares during the period. Mackay Shields LLC lifted its position in Harvard Bioscience by 57.5% in the fourth quarter. Mackay Shields LLC now owns 38,440 shares of the medical instruments supplier’s stock worth $123,000 after purchasing an additional 14,040 shares during the period. Rhumbline Advisers lifted its position in Harvard Bioscience by 47.9% in the fourth quarter. Rhumbline Advisers now owns 48,908 shares of the medical instruments supplier’s stock worth $156,000 after purchasing an additional 15,839 shares during the period. Bank of America Corp DE lifted its position in Harvard Bioscience by 7.6% in the fourth quarter. Bank of America Corp DE now owns 82,642 shares of the medical instruments supplier’s stock worth $262,000 after purchasing an additional 5,835 shares during the period. Finally, Squarepoint Ops LLC lifted its position in Harvard Bioscience by 74.0% in the fourth quarter. Squarepoint Ops LLC now owns 97,592 shares of the medical instruments supplier’s stock worth $310,000 after purchasing an additional 41,495 shares during the period. 74.71% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Harvard Bioscience from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. ValuEngine downgraded shares of Harvard Bioscience from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th.

Shares of Harvard Bioscience stock traded down $0.02 during midday trading on Thursday, hitting $2.00. The company had a trading volume of 4,227 shares, compared to its average volume of 368,380. The company has a market cap of $76.13 million, a price-to-earnings ratio of 13.37 and a beta of 1.69. 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 has a 1-year low of $1.91 and a 1-year high of $6.70.

Harvard Bioscience (NASDAQ:HBIO) last announced its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $28.23 million for the quarter, compared to the consensus estimate of $28.50 million. Harvard Bioscience had a negative net margin of 1.45% and a positive return on equity of 5.95%. As a group, research analysts forecast that Harvard Bioscience will post 0.09 earnings per share for the current fiscal year.

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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