Harrow (NASDAQ:HROW) Stock Price Down 7.7% on Analyst Downgrade

Harrow, Inc. (NASDAQ:HROW)’s share price traded down 7.7% during mid-day trading on Tuesday after B. Riley lowered their price target on the stock from $69.00 to $65.00. B. Riley currently has a buy rating on the stock. Harrow traded as low as $24.53 and last traded at $24.55. 152,015 shares were traded during trading, a decline of 69% from the average session volume of 497,613 shares. The stock had previously closed at $26.60.

Separately, HC Wainwright restated a “buy” rating and issued a $57.00 price objective on shares of Harrow in a research note on Monday.

Hedge Funds Weigh In On Harrow

Hedge funds have recently modified their holdings of the company. Woodmont Investment Counsel LLC raised its position in shares of Harrow by 0.5% during the 4th quarter. Woodmont Investment Counsel LLC now owns 81,400 shares of the company’s stock valued at $2,731,000 after purchasing an additional 445 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Harrow by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,356 shares of the company’s stock valued at $582,000 after acquiring an additional 585 shares during the period. Swiss National Bank raised its holdings in Harrow by 1.0% during the fourth quarter. Swiss National Bank now owns 59,300 shares of the company’s stock valued at $1,990,000 after acquiring an additional 600 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Harrow by 10.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,552 shares of the company’s stock valued at $253,000 after acquiring an additional 727 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Harrow in the fourth quarter worth about $25,000. 72.76% of the stock is currently owned by institutional investors.

Harrow Price Performance

The firm has a 50-day moving average of $28.36 and a 200-day moving average of $37.63. The stock has a market cap of $927.77 million, a PE ratio of -27.71 and a beta of 0.69. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.55 and a quick ratio of 1.44.

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

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.