Harrow (NASDAQ:HROW) Trading Down 7.7% – Here’s What Happened

Harrow, Inc. (NASDAQ:HROW) shares fell 7.7% on Tuesday . The stock traded as low as $24.53 and last traded at $24.55. 152,015 shares were traded during mid-day trading, a decline of 69% from the average session volume of 497,613 shares. The stock had previously closed at $26.60.

Analyst Ratings Changes

HROW has been the subject of a number of recent analyst reports. B. Riley dropped their price target on shares of Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. HC Wainwright reiterated a “buy” rating and issued a $57.00 price target on shares of Harrow in a report on Monday.

Harrow Price Performance

The stock’s 50 day simple moving average is $28.76 and its 200 day simple moving average is $37.86. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.44 and a current ratio of 1.55. The firm has a market capitalization of $924.57 million, a P/E ratio of -27.61 and a beta of 0.69.

Harrow (NASDAQ:HROW) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.11 by $0.14. Harrow had a negative return on equity of 45.57% and a negative net margin of 19.75%. The company had revenue of $66.83 million for the quarter, compared to the consensus estimate of $66.01 million. As a group, analysts expect that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Harrow by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 1,872,100 shares of the company’s stock valued at $62,809,000 after acquiring an additional 5,225 shares during the last quarter. Braidwell LP increased its position in shares of Harrow by 106.3% during the fourth quarter. Braidwell LP now owns 907,039 shares of the company’s stock worth $30,431,000 after purchasing an additional 467,401 shares in the last quarter. State Street Corp lifted its holdings in shares of Harrow by 2.2% during the 3rd quarter. State Street Corp now owns 730,973 shares of the company’s stock valued at $32,865,000 after purchasing an additional 15,554 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Harrow by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 722,730 shares of the company’s stock worth $32,500,000 after purchasing an additional 3,960 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in Harrow by 6.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 664,714 shares of the company’s stock worth $22,301,000 after buying an additional 41,896 shares during the last quarter. Hedge funds and other 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.