Harrow (NASDAQ:HROW) Shares Down 5.8% – Time to Sell?

Harrow, Inc. (NASDAQ:HROW)’s stock price fell 5.8% during mid-day trading on Friday . The stock traded as low as $48.13 and last traded at $48.13. 162,391 shares were traded during trading, a decline of 70% from the average session volume of 549,672 shares. The stock had previously closed at $51.10.

Analyst Upgrades and Downgrades

HROW has been the topic of a number of analyst reports. HC Wainwright upped their price target on Harrow from $64.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Lake Street Capital lifted their price objective on Harrow from $42.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. LADENBURG THALM/SH SH increased their target price on shares of Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Harrow from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.43.

Harrow Stock Down 7.9%

The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -470.55 and a beta of 0.07. The firm has a 50 day moving average of $40.24 and a 200 day moving average of $37.49. The company has a quick ratio of 2.52, a current ratio of 2.72 and a debt-to-equity ratio of 5.21.

Harrow (NASDAQ:HROW) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $71.64 million for the quarter, compared to analyst estimates of $73.70 million. Harrow had a positive return on equity of 28.71% and a negative net margin of 1.99%. As a group, sell-side analysts predict that Harrow, Inc. will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Harrow

A number of large investors have recently bought and sold shares of HROW. Quarry LP bought a new position in shares of Harrow during the 1st quarter worth about $32,000. Raymond James Financial Inc. acquired a new position in Harrow during the 2nd quarter worth approximately $48,000. State of Alaska Department of Revenue bought a new position in Harrow in the third quarter worth approximately $83,000. State of Wyoming bought a new position in Harrow in the first quarter worth approximately $97,000. Finally, Tower Research Capital LLC TRC grew its stake in Harrow by 345.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock valued at $103,000 after acquiring an additional 2,615 shares during the period. 72.76% of the stock is currently owned by institutional investors and hedge funds.

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.