Harrow (NASDAQ:HROW) Shares Down 4.1% – Should You Sell?

Shares of Harrow, Inc. (NASDAQ:HROW) dropped 4.1% during mid-day trading on Thursday . The stock traded as low as $33.91 and last traded at $33.94. Approximately 55,004 shares were traded during trading, a decline of 81% from the average daily volume of 292,720 shares. The stock had previously closed at $35.40.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Craig Hallum lifted their price target on Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Lake Street Capital increased their target price on shares of Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, B. Riley decreased their price objective on Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 4th.

Harrow Trading Down 5.5 %

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 business has a 50-day simple moving average of $38.86 and a two-hundred day simple moving average of $38.64. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -35.61 and a beta of 0.72.

Hedge Funds Weigh In On Harrow

Several large investors have recently modified their holdings of HROW. Brookstone Capital Management acquired a new position in Harrow in the 4th quarter valued at about $275,000. JPMorgan Chase & Co. boosted its stake in Harrow by 443.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock valued at $10,717,000 after purchasing an additional 194,480 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Harrow in the third quarter valued at about $329,000. Virtu Financial LLC acquired a new position in shares of Harrow during the 3rd quarter worth approximately $271,000. Finally, Geode Capital Management LLC raised its stake in Harrow by 0.6% during the third quarter. Geode Capital Management LLC now owns 722,730 shares of the company’s stock worth $32,500,000 after acquiring an additional 3,960 shares in the last quarter. 72.76% of the stock is owned by institutional investors.

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.