Harrow (NASDAQ:HROW) Stock Price Down 5.1% – Here’s What Happened

Shares of Harrow, Inc. (NASDAQ:HROW) traded down 5.1% during trading on Wednesday . The company traded as low as $30.25 and last traded at $30.15. 33,546 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 322,835 shares. The stock had previously closed at $31.75.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HROW shares. HC Wainwright initiated coverage on Harrow in a report on Thursday, February 6th. They issued a “buy” rating and a $57.00 price target for the company. B. Riley decreased their price target on shares of Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th.

Harrow Trading Down 5.0 %

The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 3.23. The company has a market cap of $1.07 billion, a P/E ratio of -32.10 and a beta of 0.69. The business has a 50-day moving average price of $34.58 and a two-hundred day moving average price of $39.89.

Hedge Funds Weigh In On Harrow

A number of large investors have recently modified their holdings of HROW. JPMorgan Chase & Co. increased its stake in Harrow by 443.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock worth $10,717,000 after acquiring an additional 194,480 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Harrow during the third quarter worth about $1,267,000. Penserra Capital Management LLC bought a new position in shares of Harrow during the third quarter valued at $1,986,000. SG Americas Securities LLC acquired a new position in Harrow during the 3rd quarter worth about $534,000. Finally, Semanteon Capital Management LP acquired a new stake in Harrow during the 3rd quarter valued at approximately $686,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Harrow Company Profile

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.