Advocate Group LLC Buys New Stake in Harrow, Inc. $HROW

Key Points

• Advocate Group LLC has acquired a new stake in Harrow, Inc. by purchasing 8,824 shares valued at approximately $269,000 during the second quarter, demonstrating increasing institutional interest in the company.
• Harrow's stock price opened at $37.48, reflecting a 7.6% decrease, with a one-year range between $20.85 and $59.23, indicating significant volatility.
• Analysts are generally optimistic about Harrow, with seven giving it a "Buy" rating and a consensus price target of $68.50, indicating bullish sentiment on the stock's future performance.

Advocate Group LLC bought a new stake in Harrow, Inc. (NASDAQ:HROW - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 8,824 shares of the company's stock, valued at approximately $269,000.

Other hedge funds have also recently modified their holdings of the company. Quarry LP acquired a new stake in Harrow during the 1st quarter worth $32,000. State of Wyoming acquired a new stake in Harrow during the 1st quarter worth $97,000. Strs Ohio acquired a new stake in Harrow during the 1st quarter worth $149,000. SJS Investment Consulting Inc. boosted its stake in Harrow by 97.6% during the 2nd quarter. SJS Investment Consulting Inc. now owns 6,073 shares of the company's stock worth $185,000 after purchasing an additional 3,000 shares during the period. Finally, Maridea Wealth Management LLC acquired a new stake in Harrow during the 2nd quarter worth $202,000. 72.76% of the stock is owned by hedge funds and other institutional investors.

Harrow Stock Down 7.6%

HROW stock opened at $37.48 on Friday. Harrow, Inc. has a one year low of $20.85 and a one year high of $59.23. The stock has a market capitalization of $1.39 billion, a PE ratio of -149.92 and a beta of 0.27. 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 fifty day moving average of $40.30 and a 200-day moving average of $32.64.

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

Analyst Upgrades and Downgrades

HROW has been the subject of a number of recent research reports. Lake Street Capital increased their price target on shares of Harrow from $42.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Harrow in a research note on Wednesday. B. Riley reiterated a "buy" rating and set a $74.00 price target (up previously from $70.00) on shares of Harrow in a research note on Wednesday, October 1st. Cantor Fitzgerald initiated coverage on shares of Harrow in a research note on Friday, July 11th. They set an "overweight" rating and a $76.00 price target for the company. Finally, Craig Hallum increased their price target on shares of Harrow from $54.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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