Harrow (NASDAQ:HROW) Trading Down 3.6% – Should You Sell?

Shares of Harrow, Inc. (NASDAQ:HROW) were down 3.6% on Monday . The company traded as low as $40.63 and last traded at $41.35. Approximately 84,493 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 511,457 shares. The stock had previously closed at $42.90.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HROW. Lake Street Capital upped their target price on Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. B. Riley reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Harrow in a research note on Thursday, August 29th. Finally, Craig Hallum boosted their target price on shares of Harrow from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 4th.

Harrow Stock Performance

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 company has a fifty day moving average of $47.81 and a two-hundred day moving average of $34.11. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -45.18 and a beta of 0.76.

Institutional Investors Weigh In On Harrow

Several institutional investors and hedge funds have recently modified their holdings of HROW. Virtu Financial LLC bought a new stake in Harrow during the third quarter worth approximately $271,000. Geode Capital Management LLC grew its position in Harrow by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 722,730 shares of the company’s stock valued at $32,500,000 after acquiring an additional 3,960 shares in the last quarter. Barclays PLC raised its holdings in 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 purchasing an additional 39,506 shares in the last quarter. XTX Topco Ltd purchased a new position in Harrow in the 3rd quarter valued at $487,000. Finally, Wellington Management Group LLP grew its stake in Harrow by 3.6% in the 3rd quarter. Wellington Management Group LLP now owns 103,179 shares of the company’s stock valued at $4,639,000 after acquiring an additional 3,612 shares during the last quarter. 72.76% of the stock is owned by hedge funds and other institutional investors.

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.