Harvard Bioscience (NASDAQ:HBIO) Shares to Reverse Split on Monday, March 16th

Harvard Bioscience, Inc. (NASDAQ:HBIO)’s stock is scheduled to reverse split before the market opens on Monday, March 16th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, March 15th.

Harvard Bioscience Price Performance

Shares of NASDAQ:HBIO opened at $0.51 on Thursday. The company has a market cap of $22.68 million, a price-to-earnings ratio of -0.42 and a beta of 1.51. The firm has a 50 day simple moving average of $0.58 and a 200 day simple moving average of $0.57. Harvard Bioscience has a one year low of $0.28 and a one year high of $0.95.

Analyst Ratings Changes

HBIO has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Harvard Bioscience in a research note on Monday, December 29th. Zacks Research upgraded Harvard Bioscience to a “hold” rating in a research report on Thursday, December 11th. Finally, Wall Street Zen raised Harvard Bioscience from a “hold” rating to a “buy” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.00.

Hedge Funds Weigh In On Harvard Bioscience

A number of hedge funds have recently modified their holdings of HBIO. Weber Capital Management LLC ADV bought a new stake in shares of Harvard Bioscience in the fourth quarter worth $2,140,000. Corsair Capital Management L.P. raised its position in Harvard Bioscience by 1,008.7% during the 4th quarter. Corsair Capital Management L.P. now owns 1,108,692 shares of the medical instruments supplier’s stock worth $741,000 after purchasing an additional 1,008,692 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in Harvard Bioscience during the 4th quarter worth $401,000. AMH Equity Ltd lifted its holdings in Harvard Bioscience by 15.4% during the 3rd quarter. AMH Equity Ltd now owns 4,047,535 shares of the medical instruments supplier’s stock worth $1,775,000 after buying an additional 538,832 shares during the period. Finally, Meros Investment Management LP lifted its holdings in Harvard Bioscience by 32.6% during the 4th quarter. Meros Investment Management LP now owns 1,217,628 shares of the medical instruments supplier’s stock worth $814,000 after buying an additional 299,369 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.

About Harvard Bioscience

Harvard Bioscience, Inc develops, manufactures and distributes life science research instruments and consumables used by academic, biopharmaceutical and government laboratories worldwide. The company’s product portfolio spans cellular physiology, microfluidics, electrophysiology and lab automation, providing tools that enable researchers to study everything from cell behavior and organ function to drug delivery and tissue mechanics.

Through its operating units—most notably Harvard Apparatus, BTX, Radnoti and Warner Instruments—Harvard Bioscience offers a diverse range of scientific equipment including precision pumps, stereotaxic instruments, electroporation and gene delivery systems, perfusion systems and microinjection tools.