Harrow (NASDAQ:HROW) Trading Down 5.5%

Shares of Harrow, Inc. (NASDAQ:HROW) were down 5.5% during trading on Monday . The company traded as low as $16.90 and last traded at $16.98. Approximately 112,461 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 454,394 shares. The stock had previously closed at $17.97.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HROW. Lake Street Capital lifted their price objective on shares of Harrow from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Craig Hallum lifted their price target on Harrow from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, B. Riley restated a “buy” rating and issued a $29.00 price objective (up previously from $26.00) on shares of Harrow in a research note on Wednesday, May 15th.

Harrow Price Performance

The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 3.06. The company has a 50 day moving average of $14.24 and a 200-day moving average of $11.93. The firm has a market capitalization of $628.00 million, a P/E ratio of -18.68 and a beta of 0.87.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). Harrow had a negative net margin of 22.59% and a negative return on equity of 39.82%. The business had revenue of $34.59 million during the quarter, compared to the consensus estimate of $34.37 million. On average, sell-side analysts predict that Harrow, Inc. will post -0.51 EPS for the current year.

Insider Buying and Selling at Harrow

In other Harrow news, major shareholder Opaleye Management Inc. purchased 50,600 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was bought at an average cost of $9.65 per share, for a total transaction of $488,290.00. Following the completion of the transaction, the insider now owns 3,695,600 shares in the company, valued at $35,662,540. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Opaleye Management Inc. bought 50,600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was purchased at an average cost of $9.65 per share, for a total transaction of $488,290.00. Following the transaction, the insider now owns 3,695,600 shares in the company, valued at approximately $35,662,540. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark L. Baum purchased 9,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average price of $11.59 per share, for a total transaction of $104,310.00. Following the transaction, the chief executive officer now directly owns 2,137,525 shares of the company’s stock, valued at approximately $24,773,914.75. The disclosure for this purchase can be found here. Insiders acquired 170,715 shares of company stock valued at $1,864,011 in the last quarter. Company insiders own 13.67% of the company’s stock.

Hedge Funds Weigh In On Harrow

Several hedge funds and other institutional investors have recently made changes to their positions in HROW. China Universal Asset Management Co. Ltd. boosted its position in shares of Harrow by 347.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,063 shares of the company’s stock worth $46,000 after acquiring an additional 3,155 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Harrow by 122.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,073 shares of the company’s stock worth $90,000 after purchasing an additional 4,440 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Harrow in the 1st quarter valued at $185,000. Price T Rowe Associates Inc. MD increased its stake in shares of Harrow by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,672 shares of the company’s stock valued at $221,000 after purchasing an additional 1,033 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Harrow by 12.7% during the 1st quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company’s stock worth $224,000 after buying an additional 1,912 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

About Harrow

Harrow Health, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company also holds equity interests in Surface Ophthalmics, Inc, a clinical-stage pharmaceutical company that focuses on the development and commercialization of therapeutics for ocular surface diseases; Melt Pharmaceuticals, Inc, a clinical-stage pharmaceutical company that focused on the development and commercialization of proprietary non-intravenous, sedation, and anesthesia therapeutics for human medical procedures in hospital, outpatient, and in-office settings; and Eton Pharmaceuticals, Inc, a commercial-stage pharmaceutical company that engages in developing and commercializing drug products.