Harrow (NASDAQ:HROW) Shares Gap Down – Time to Sell?

Harrow, Inc. (NASDAQ:HROW)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $51.80, but opened at $41.75. Harrow shares last traded at $42.99, with a volume of 650,606 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $50.00 target price on shares of Harrow in a research note on Thursday, August 29th. Craig Hallum raised their price target on Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Lake Street Capital lifted their price objective on Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 4th.

Harrow Price Performance

The firm has a market cap of $1.38 billion, a P/E ratio of -41.50 and a beta of 0.76. The stock’s 50-day moving average is $47.92 and its 200-day moving average is $32.28. The company has a quick ratio of 2.43, a current ratio of 2.60 and a debt-to-equity ratio of 3.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Turn Management LLC acquired a new stake in Harrow during the third quarter worth about $14,683,000. Private Capital Management LLC grew its holdings in shares of Harrow by 7.8% during the 1st quarter. Private Capital Management LLC now owns 3,012,393 shares of the company’s stock worth $39,854,000 after purchasing an additional 217,896 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Harrow during the third quarter valued at approximately $8,572,000. Charles Schwab Investment Management Inc. raised 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 valued at $11,313,000 after purchasing an additional 166,602 shares in the last quarter. Finally, Braidwell LP lifted its position in Harrow by 47.9% in the third quarter. Braidwell LP now owns 439,638 shares of the company’s stock worth $19,766,000 after purchasing an additional 142,450 shares during the period. Institutional investors own 72.76% of the company’s stock.

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.