Kornitzer Capital Management Inc. KS Acquires New Position in Harrow, Inc. $HROW

Kornitzer Capital Management Inc. KS acquired a new stake in shares of Harrow, Inc. (NASDAQ:HROW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,000 shares of the company’s stock, valued at approximately $916,000. Kornitzer Capital Management Inc. KS owned about 0.08% of Harrow as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Voya Investment Management LLC raised its position in shares of Harrow by 4,035.5% in the first quarter. Voya Investment Management LLC now owns 381,461 shares of the company’s stock valued at $10,147,000 after purchasing an additional 372,237 shares during the period. Nuveen LLC purchased a new position in Harrow in the 1st quarter valued at approximately $2,046,000. Braidwell LP raised its holdings in Harrow by 5.5% during the 1st quarter. Braidwell LP now owns 956,839 shares of the company’s stock valued at $25,452,000 after acquiring an additional 49,800 shares during the period. Royce & Associates LP lifted its position in shares of Harrow by 12.0% during the first 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. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of Harrow in the first quarter worth $559,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Stock Performance

Shares of HROW opened at $38.52 on Monday. Harrow, Inc. has a 12-month low of $20.85 and a 12-month high of $54.19. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.43 billion, a PE ratio of -154.08 and a beta of 0.27. The stock has a 50-day moving average price of $41.17 and a 200-day moving average price of $33.73.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Craig Hallum boosted their price objective on Harrow from $54.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a report on Saturday. HC Wainwright reissued a “buy” rating and issued a $64.00 price target on shares of Harrow in a report on Monday, September 29th. Lake Street Capital raised their price objective on shares of Harrow from $42.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Finally, B. Riley reaffirmed a “buy” rating and set a $74.00 target price (up previously from $70.00) on shares of Harrow in a report on Wednesday, October 1st. Seven 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Harrow 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.