Harrow (NASDAQ:HROW) Shares Down 7.7% – Here’s Why

Harrow, Inc. (NASDAQ:HROW)’s share price traded down 7.7% during trading on Tuesday . The stock traded as low as $24.53 and last traded at $24.55. 152,015 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 497,613 shares. The stock had previously closed at $26.60.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HROW. B. Riley cut their target price on Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. HC Wainwright restated a “buy” rating and issued a $57.00 price target on shares of Harrow in a research note on Monday.

Harrow Price Performance

The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.44 and a current ratio of 1.55. The firm’s fifty day simple moving average is $28.76 and its 200 day simple moving average is $37.86. The firm has a market cap of $924.57 million, a P/E ratio of -27.61 and a beta of 0.69.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. Harrow had a negative return on equity of 45.57% and a negative net margin of 19.75%. The company had revenue of $66.83 million during the quarter, compared to analyst estimates of $66.01 million. As a group, analysts forecast that Harrow, Inc. will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Harrow

Large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new position in Harrow during the fourth quarter valued at $25,000. Quest Partners LLC bought a new position in shares of Harrow in the 3rd quarter valued at about $29,000. Tower Research Capital LLC TRC lifted its holdings in shares of Harrow by 769.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company’s stock valued at $55,000 after acquiring an additional 1,462 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Harrow in the fourth quarter worth about $78,000. Finally, AlphaQuest LLC increased its stake in Harrow by 452.8% during the fourth quarter. AlphaQuest LLC now owns 3,527 shares of the company’s stock worth $118,000 after acquiring an additional 2,889 shares during 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.