Harrow (NASDAQ:HROW) Trading Down 2.5% – Should You Sell?

Harrow, Inc. (NASDAQ:HROW)’s share price dropped 2.5% during trading on Tuesday . The stock traded as low as $33.06 and last traded at $33.15. Approximately 35,077 shares changed hands during trading, a decline of 93% from the average daily volume of 500,295 shares. The stock had previously closed at $34.01.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HROW shares. Craig Hallum lifted their price target on shares of Harrow from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Lake Street Capital increased their price target on Harrow from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, B. Riley cut their price objective on Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 4th.

Harrow Stock Down 1.3 %

The company has a market capitalization of $1.20 billion, a P/E ratio of -35.70 and a beta of 0.69. 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 50 day simple moving average of $44.22 and a two-hundred day simple moving average of $36.90.

Institutional Investors Weigh In On Harrow

Institutional investors have recently bought and sold shares of the company. First Turn Management LLC acquired a new position in Harrow in the third quarter valued at approximately $14,683,000. Assenagon Asset Management S.A. acquired a new position in Harrow in the 3rd quarter valued at $8,572,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Harrow by 195.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock worth $11,313,000 after buying an additional 166,602 shares in the last quarter. Braidwell LP grew its position in shares of Harrow by 47.9% in the third quarter. Braidwell LP now owns 439,638 shares of the company’s stock valued at $19,766,000 after purchasing an additional 142,450 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Harrow during the third quarter worth about $5,864,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

About Harrow

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.