Harrow (NASDAQ:HROW) Shares Gap Up – Here’s Why

Shares of Harrow, Inc. (NASDAQ:HROW) gapped up before the market opened on Tuesday . The stock had previously closed at $23.32, but opened at $28.93. Harrow shares last traded at $28.87, with a volume of 570,497 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on HROW. B. Riley decreased their price objective on Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. HC Wainwright began coverage on Harrow in a research report on Thursday, February 6th. They set a “buy” rating and a $57.00 price objective on the stock.

Harrow Stock Performance

The stock has a market cap of $996.51 million, a P/E ratio of -29.78 and a beta of 0.69. The business has a 50 day moving average price of $30.19 and a 200 day moving average price of $38.73. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 3.23.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC bought a new position in Harrow in the third quarter worth approximately $29,000. GF Fund Management CO. LTD. bought a new position in Harrow in the fourth quarter worth approximately $25,000. Tower Research Capital LLC TRC grew its stake in Harrow by 769.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company’s stock worth $55,000 after purchasing an additional 1,462 shares in the last quarter. Aquatic Capital Management LLC bought a new position in Harrow in the fourth quarter worth approximately $78,000. Finally, AlphaQuest LLC boosted its position in Harrow by 452.8% during the 4th quarter. AlphaQuest LLC now owns 3,527 shares of the company’s stock valued at $118,000 after acquiring an additional 2,889 shares in the last quarter. Institutional investors own 72.76% of the company’s stock.

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.