Harrow (NASDAQ:HROW) Sees Unusually-High Trading Volume – Should You Buy?

Harrow, Inc. (NASDAQ:HROW) saw unusually-strong trading volume on Thursday . Approximately 781,792 shares changed hands during mid-day trading, an increase of 5% from the previous session’s volume of 747,299 shares.The stock last traded at $31.81 and had previously closed at $30.86.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HROW shares. B. Riley Financial reiterated a “buy” rating and issued a $65.00 price objective (down from $74.00) on shares of Harrow in a research report on Tuesday, April 7th. William Blair reiterated an “outperform” rating on shares of Harrow in a research report on Tuesday, March 3rd. Cantor Fitzgerald decreased their price objective 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. Wall Street Zen lowered shares of Harrow from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Nomura lowered shares of Harrow to a “neutral” rating in a research report on Wednesday, March 18th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and a consensus target price of $69.43.

Harrow Price Performance

The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30. The company’s 50-day simple moving average is $36.21 and its 200-day simple moving average is $42.02. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -79.05 and a beta of 0.34.

Harrow (NASDAQ:HROW) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.31). Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. The firm had revenue of $44.20 million during the quarter, compared to analyst estimates of $52.43 million. During the same period last year, the business earned ($0.38) EPS. On average, equities research analysts anticipate that Harrow, Inc. will post 0.29 EPS for the current year.

Insider Activity at Harrow

In other news, CFO Andrew R. Boll acquired 3,500 shares of the stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $29.90 per share, with a total value of $104,650.00. Following the completion of the transaction, the chief financial officer directly owned 814,679 shares of the company’s stock, valued at $24,358,902.10. The trade was a 0.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Adrienne L. Graves acquired 1,000 shares of the stock in a transaction on Monday, May 18th. The stock was purchased at an average cost of $31.07 per share, with a total value of $31,070.00. Following the transaction, the director directly owned 1,000 shares of the company’s stock, valued at $31,070. This represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 12.80% of the stock is owned by company insiders.

Institutional Trading of Harrow

Hedge funds have recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Harrow during the fourth quarter worth approximately $26,000. KBC Group NV acquired a new stake in shares of Harrow during the first quarter worth approximately $31,000. SBI Securities Co. Ltd. grew its position in shares of Harrow by 393.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock worth $52,000 after buying an additional 846 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Harrow during the second quarter worth approximately $48,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Harrow during the third quarter worth approximately $83,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

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.