Harrow, Inc. (NASDAQ:HROW) Major Shareholder Acquires $199,400.00 in Stock

Harrow, Inc. (NASDAQ:HROW) major shareholder Opaleye Management Inc. bought 20,000 shares of Harrow stock in a transaction on Thursday, April 25th. The shares were acquired at an average cost of $9.97 per share, for a total transaction of $199,400.00. Following the completion of the acquisition, the insider now directly owns 3,815,000 shares in the company, valued at $38,035,550. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Tuesday, April 23rd, Opaleye Management Inc. bought 11,715 shares of Harrow stock. The shares were bought at an average cost of $10.29 per share, for a total transaction of $120,547.35.
• On Friday, April 19th, Opaleye Management Inc. acquired 29,400 shares of Harrow stock. The shares were acquired at an average price of $10.56 per share, for a total transaction of $310,464.00.
• On Thursday, March 28th, Opaleye Management Inc. acquired 50,000 shares of Harrow stock. The shares were acquired at an average price of $12.82 per share, for a total transaction of $641,000.00.
• On Wednesday, March 20th, Opaleye Management Inc. bought 50,600 shares of Harrow stock. The stock was purchased at an average price of $9.65 per share, with a total value of $488,290.00.

Harrow Stock Performance

HROW stock traded up $0.32 during midday trading on Tuesday, reaching $10.81. 109,519 shares of the company’s stock traded hands, compared to its average volume of 430,917. Harrow, Inc. has a 52 week low of $7.60 and a 52 week high of $28.25. The company has a 50-day moving average price of $11.45 and a two-hundred day moving average price of $10.97. The company has a debt-to-equity ratio of 2.60, a quick ratio of 2.61 and a current ratio of 2.83. The firm has a market capitalization of $382.46 million, a PE ratio of -14.41 and a beta of 0.58.

Harrow (NASDAQ:HROW) last posted its earnings results on Tuesday, March 19th. The company reported ($0.27) earnings per share for the quarter. The company had revenue of $36.36 million for the quarter, compared to analysts’ expectations of $37.65 million. Harrow had a negative net margin of 18.75% and a negative return on equity of 29.48%. As a group, equities analysts anticipate that Harrow, Inc. will post -0.39 EPS for the current year.

Institutional Trading of Harrow

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in Harrow in the 3rd quarter worth approximately $26,000. BNP Paribas Financial Markets grew its holdings in Harrow by 12.7% in the 1st quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company’s stock worth $224,000 after acquiring an additional 1,912 shares during the last quarter. Equitable Trust Co. lifted its position in shares of Harrow by 2.9% in the 1st quarter. Equitable Trust Co. now owns 83,500 shares of the company’s stock worth $1,105,000 after purchasing an additional 2,345 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Harrow in the 3rd quarter worth about $34,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Harrow by 66.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,745 shares of the company’s stock valued at $89,000 after acquiring an additional 2,682 shares during the period. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HROW. B. Riley reduced their price target on shares of Harrow from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Craig Hallum began coverage on shares of Harrow in a research report on Thursday, April 11th. They set a “buy” rating and a $24.00 price target for the company.

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.