Grandeur Peak Global Advisors LLC Takes $610,000 Position in Harrow, Inc. $HROW

Grandeur Peak Global Advisors LLC bought a new position in shares of Harrow, Inc. (NASDAQ:HROW) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 14,353 shares of the company’s stock, valued at approximately $610,000.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Harrow by 102.5% in the 1st quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock valued at $261,000 after purchasing an additional 4,967 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Harrow by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock worth $483,000 after buying an additional 790 shares during the period. Strs Ohio bought a new position in Harrow during the 1st quarter worth $149,000. Legal & General Group Plc lifted its holdings in shares of Harrow by 12.4% during the second quarter. Legal & General Group Plc now owns 30,753 shares of the company’s stock worth $939,000 after buying an additional 3,384 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Harrow by 9.3% during the second quarter. Rhumbline Advisers now owns 46,969 shares of the company’s stock worth $1,434,000 after buying an additional 3,994 shares in the last quarter. 72.76% of the stock is owned by institutional investors and hedge funds.

Harrow Price Performance

Shares of NASDAQ HROW opened at $37.27 on Monday. The stock has a market capitalization of $1.40 billion, a PE ratio of -37.27 and a beta of 0.28. The company has a debt-to-equity ratio of 19.70, a current ratio of 2.24 and a quick ratio of 2.08. The business has a fifty day moving average price of $41.28 and a two-hundred day moving average price of $39.51. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85.

Harrow (NASDAQ:HROW) last released its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.28). The company had revenue of $70.66 million for the quarter, compared to the consensus estimate of $70.35 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%.

Insider Buying and Selling

In related news, insider Amir Shojaei sold 11,250 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the transaction, the insider owned 11,250 shares of the company’s stock, valued at $450,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HROW. Zacks Research downgraded shares of Harrow from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. BTIG Research reissued a “buy” rating and issued a $63.00 price objective on shares of Harrow in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald decreased their target price on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Harrow currently has an average rating of “Moderate Buy” and a consensus price target of $69.43.

About Harrow

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.