Harrow (NASDAQ:HROW) Shares Gap Up After Better-Than-Expected Earnings

Harrow, Inc. (NASDAQ:HROW) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.87, but opened at $30.18. Harrow shares last traded at $28.19, with a volume of 513,909 shares changing hands.

The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.11 by $0.14. The company had revenue of $66.83 million for the quarter, compared to the consensus estimate of $66.01 million. Harrow had a negative return on equity of 45.57% and a negative net margin of 19.75%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HROW. HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Harrow in a report on Tuesday, March 18th. B. Riley dropped their target price on shares of Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 4th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in Harrow during the 4th quarter valued at approximately $25,000. Quest Partners LLC bought a new stake in shares of Harrow in the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC lifted its stake in Harrow by 769.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company’s stock valued at $55,000 after buying an additional 1,462 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Harrow during the 4th quarter worth approximately $78,000. Finally, AlphaQuest LLC increased its stake in shares of Harrow by 452.8% in the 4th quarter. AlphaQuest LLC now owns 3,527 shares of the company’s stock valued at $118,000 after acquiring an additional 2,889 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Stock Up 0.6 %

The company has a market cap of $998.40 million, a price-to-earnings ratio of -29.91 and a beta of 0.69. The stock’s 50-day moving average is $29.05 and its 200-day moving average is $38.10. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 3.23.

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.