Harrow (NASDAQ:HROW) Shares Up 6.4% – Here’s Why

Harrow, Inc. (NASDAQ:HROW) shares shot up 6.4% on Friday . The company traded as high as $26.83 and last traded at $27.26. 83,879 shares changed hands during trading, a decline of 83% from the average session volume of 496,259 shares. The stock had previously closed at $25.62.

Analyst Ratings Changes

HROW has been the subject of several recent analyst reports. HC Wainwright upped their target price on shares of Harrow from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, May 12th. 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 research note on Tuesday, April 1st.

Harrow Price Performance

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 has a market cap of $1.04 billion, a P/E ratio of -30.22 and a beta of 0.41. The company’s 50 day simple moving average is $25.02 and its 200 day simple moving average is $31.91.

Harrow (NASDAQ:HROW) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.40). Harrow had a negative return on equity of 45.57% and a negative net margin of 19.75%. The company had revenue of $47.83 million for the quarter, compared to the consensus estimate of $57.00 million. As a group, equities analysts forecast that Harrow, Inc. will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Harrow

Large investors have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of Harrow by 301.9% during the third quarter. Barclays PLC now owns 52,593 shares of the company’s stock worth $2,365,000 after acquiring an additional 39,506 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Harrow during the fourth quarter worth $275,000. SG Americas Securities LLC increased its position in shares of Harrow by 158.5% during the fourth quarter. SG Americas Securities LLC now owns 30,689 shares of the company’s stock worth $1,030,000 after acquiring an additional 18,815 shares in the last quarter. Sonora Investment Management Group LLC bought a new stake in shares of Harrow during the fourth quarter worth $518,000. Finally, Bank of New York Mellon Corp increased its position in shares of Harrow by 8.4% during the fourth quarter. Bank of New York Mellon Corp now owns 86,447 shares of the company’s stock worth $2,900,000 after acquiring an additional 6,690 shares in the last quarter. Institutional investors own 72.76% of the company’s stock.

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.