Harvard Bioscience (NASDAQ:HBIO) Stock Price Passes Below 200-Day Moving Average - Time to Sell?

Harvard Bioscience, Inc. (NASDAQ:HBIO - Get Free Report) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.58 and traded as low as $1.93. Harvard Bioscience shares last traded at $1.98, with a volume of 83,714 shares trading hands.

Harvard Bioscience Stock Down 3.0 %

The company's fifty day simple moving average is $2.16 and its 200-day simple moving average is $2.57. The firm has a market capitalization of $83.75 million, a PE ratio of -5.82 and a beta of 1.27. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.06 and a quick ratio of 0.91.

Hedge Funds Weigh In On Harvard Bioscience

Several hedge funds have recently modified their holdings of HBIO. Bank of New York Mellon Corp grew its position in Harvard Bioscience by 13.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,635 shares of the medical instruments supplier's stock worth $783,000 after purchasing an additional 31,505 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Harvard Bioscience by 24.9% during the second quarter. Rhumbline Advisers now owns 47,753 shares of the medical instruments supplier's stock worth $136,000 after buying an additional 9,512 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Harvard Bioscience by 6.1% during the second quarter. Renaissance Technologies LLC now owns 745,278 shares of the medical instruments supplier's stock valued at $2,124,000 after buying an additional 42,800 shares during the last quarter. Gabelli Funds LLC acquired a new position in shares of Harvard Bioscience in the 2nd quarter valued at $128,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Harvard Bioscience in the 2nd quarter worth $40,000. Institutional investors and hedge funds own 80.87% of the company's stock.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc develops, manufactures, and sells technologies, products, and services for life science applications in the United States and internationally. The company offers cellular and molecular technology products, such as syringe and peristaltic infusion pump products; electroporation and electrofusion instruments, amino acid analyzers, spectrophotometers, and other equipment for molecular level testing and research; and precision scientific measuring instrumentation and equipment, including data acquisition systems for cellular analysis, complete micro electrode array solutions for in vivo recordings, and in vitro systems for extracellular recordings.