Harrow (NASDAQ:HROW) Stock Price Down 7.3% – Here’s Why

Harrow, Inc. (NASDAQ:HROW) shares traded down 7.3% during trading on Friday . The stock traded as low as $39.56 and last traded at $39.72. 156,991 shares were traded during mid-day trading, a decline of 69% from the average session volume of 506,457 shares. The stock had previously closed at $42.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HROW shares. B. Riley restated a “buy” rating and set a $50.00 price target on shares of Harrow in a report on Thursday, August 29th. Craig Hallum boosted their target price on shares of Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Lake Street Capital raised their target price on Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 4th.

Harrow Stock Performance

The firm’s fifty day moving average is $47.92 and its 200 day moving average is $32.43. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -41.50 and a beta of 0.76. The company has a debt-to-equity ratio of 3.18, a current ratio of 2.60 and a quick ratio of 2.43.

Hedge Funds Weigh In On Harrow

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in shares of Harrow during the third quarter worth $29,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Harrow by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,283 shares of the company’s stock worth $57,000 after purchasing an additional 227 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Harrow during the 2nd quarter worth about $33,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Harrow by 2,730.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock valued at $44,000 after buying an additional 2,048 shares during the last quarter. Finally, Hills Bank & Trust Co bought a new stake in shares of Harrow in the 3rd quarter valued at approximately $107,000. 72.76% of the stock is currently 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.