D.A. Davidson & CO. Trims Holdings in Harrow, Inc. $HROW

D.A. Davidson & CO. trimmed its position in Harrow, Inc. (NASDAQ:HROW) by 22.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,933 shares of the company’s stock after selling 13,255 shares during the quarter. D.A. Davidson & CO.’s holdings in Harrow were worth $1,403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HROW. Westside Investment Management Inc. increased its holdings in Harrow by 6.3% in the 1st quarter. Westside Investment Management Inc. now owns 173,856 shares of the company’s stock worth $4,625,000 after acquiring an additional 10,315 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Harrow in the 1st quarter worth approximately $559,000. Royce & Associates LP increased its holdings in Harrow by 12.0% in the 1st quarter. Royce & Associates LP now owns 327,096 shares of the company’s stock worth $8,701,000 after acquiring an additional 35,006 shares in the last quarter. Equitable Trust Co. increased its holdings in Harrow by 9.2% in the 1st quarter. Equitable Trust Co. now owns 47,570 shares of the company’s stock worth $1,265,000 after acquiring an additional 4,015 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Harrow in the 1st quarter worth approximately $2,046,000. 72.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HROW. Cantor Fitzgerald began coverage on shares of Harrow in a report on Friday, July 11th. They set an “overweight” rating and a $76.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and set a $63.00 price objective on shares of Harrow in a report on Wednesday, September 24th. Craig Hallum increased their price objective on shares of Harrow from $54.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. B. Riley reaffirmed a “buy” rating and set a $74.00 price objective (up from $70.00) on shares of Harrow in a report on Wednesday, October 1st. Finally, Lake Street Capital increased their price objective on shares of Harrow from $42.00 to $70.00 and gave the company a “buy” rating in a report on Monday, September 29th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.50.

Harrow Stock Down 0.7%

NASDAQ HROW opened at $38.24 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.58 and a current ratio of 0.62. The company has a market capitalization of $1.41 billion, a P/E ratio of -152.96 and a beta of 0.27. Harrow, Inc. has a one year low of $20.85 and a one year high of $54.19. The stock has a 50 day moving average price of $41.16 and a 200-day moving average price of $33.83.

Harrow (NASDAQ:HROW) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $0.03 earnings per share (EPS) for the quarter. The company had revenue of $22.12 million during the quarter. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%. Harrow has set its Q2 2023 guidance at EPS. As a group, equities analysts predict that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

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.