Harrow (NASDAQ:HROW) Trading Up 5.1% – Here’s What Happened

Harrow, Inc. (NASDAQ:HROW)’s stock price shot up 5.1% on Wednesday . The stock traded as high as $26.05 and last traded at $26.24. 69,221 shares changed hands during trading, a decline of 86% from the average session volume of 499,486 shares. The stock had previously closed at $24.98.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HROW. B. Riley lowered their target price on shares of Harrow from $69.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $57.00 target price on shares of Harrow in a report on Monday.

Harrow Price Performance

The firm has a market capitalization of $930.09 million, a P/E ratio of -27.90 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. The stock’s fifty day simple moving average is $28.53 and its 200 day simple moving average is $37.72.

Harrow (NASDAQ:HROW) last posted its 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 net margin of 19.75% and a negative return on equity of 45.57%. The company had revenue of $66.83 million during the quarter, compared to analysts’ expectations of $66.01 million. On average, equities research analysts predict that Harrow, Inc. will post -0.53 EPS for the current year.

Institutional Trading of Harrow

Institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in Harrow in the fourth quarter valued at about $25,000. Tower Research Capital LLC TRC increased its holdings in shares of Harrow by 769.5% during the fourth 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 in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Harrow in the 4th quarter valued at approximately $78,000. AlphaQuest LLC boosted its stake in Harrow by 452.8% in the 4th quarter. AlphaQuest LLC now owns 3,527 shares of the company’s stock worth $118,000 after purchasing an additional 2,889 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in Harrow during the 4th quarter worth approximately $214,000. Institutional investors and hedge funds 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.