Harrow (NASDAQ:HROW) Trading Down 7.7% Following Analyst Downgrade

Harrow, Inc. (NASDAQ:HROW) traded down 7.7% during mid-day trading on Tuesday after B. Riley lowered their price target on the stock from $69.00 to $65.00. B. Riley currently has a buy rating on the stock. Harrow traded as low as $24.53 and last traded at $24.55. 152,015 shares traded hands during trading, a decline of 69% from the average session volume of 497,613 shares. The stock had previously closed at $26.60.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Harrow in a report on Monday.

Institutional Investors Weigh In On Harrow

Several hedge funds and other institutional investors have recently made changes to their positions in HROW. GF Fund Management CO. LTD. bought a new position in Harrow in the 4th quarter valued at approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Harrow by 89.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,940 shares of the company’s stock valued at $2,078,000 after acquiring an additional 29,262 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Harrow by 30.4% during the 4th quarter. Two Sigma Advisers LP now owns 38,200 shares of the company’s stock valued at $1,282,000 after acquiring an additional 8,900 shares in the last quarter. Two Sigma Investments LP grew its position in Harrow by 483.2% during the 4th quarter. Two Sigma Investments LP now owns 150,355 shares of the company’s stock worth $5,044,000 after acquiring an additional 124,574 shares during the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in Harrow in the 4th quarter worth about $270,000. 72.76% of the stock is owned by institutional investors.

Harrow Stock Up 4.3 %

The firm has a 50-day simple moving average of $28.36 and a 200 day simple moving average of $37.63. The stock has a market capitalization of $927.77 million, a P/E ratio of -27.71 and a beta of 0.69. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.55 and a quick ratio of 1.44.

Harrow (NASDAQ:HROW) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. Harrow had a negative net margin of 19.75% and a negative return on equity of 45.57%. The business had revenue of $66.83 million during the quarter, compared to analyst estimates of $66.01 million. On average, equities research analysts forecast that Harrow, Inc. will post -0.53 EPS for the current year.

About Harrow

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.