Bard Associates Inc. Takes $1.72 Million Position in Harrow, Inc. $HROW

Key Points

• Bard Associates acquired a $1.72 million stake in Harrow during the second quarter, while institutional investors collectively own 72.76% of the company.
• Harrow reported a quarterly loss of $0.46 per share, missing estimates by $0.28, though revenue of $70.66 million slightly exceeded forecasts.
• Analyst sentiment remains mixed but leans positive: the stock has a “Moderate Buy” consensus rating and a $69.43 average price target, compared with a recent price near $40.95.

Bard Associates Inc. acquired a new stake in Harrow, Inc. (NASDAQ:HROW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 40,409 shares of the company's stock, valued at approximately $1,716,000. Bard Associates Inc. owned 0.11% of Harrow as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Harrow in the 2nd quarter valued at $116,373,000. Rice Hall James & Associates LLC acquired a new stake in Harrow in the second quarter valued at $16,459,000. Dimensional Fund Advisors LP lifted its holdings in Harrow by 56.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company's stock worth $20,428,000 after buying an additional 208,972 shares during the last quarter. Luxor Capital Group LP lifted its holdings in Harrow by 22.0% during the 1st quarter. Luxor Capital Group LP now owns 1,119,400 shares of the company's stock worth $39,470,000 after buying an additional 201,859 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Harrow by 266.8% during the 2nd quarter. Bank of America Corp DE now owns 213,448 shares of the company's stock worth $6,519,000 after acquiring an additional 155,258 shares in the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Amir Shojaei sold 11,250 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.00, for a total transaction of $450,000.00. Following the completion of the transaction, the insider directly owned 11,250 shares in the company, valued at approximately $450,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.80% of the stock is currently owned by company insiders.

Harrow Stock Performance

NASDAQ HROW opened at $40.95 on Friday. The firm has a market capitalization of $1.54 billion, a P/E ratio of -40.95 and a beta of 0.28. Harrow, Inc. has a 1-year low of $28.54 and a 1-year high of $54.85. The company has a debt-to-equity ratio of 19.70, a current ratio of 2.24 and a quick ratio of 2.08. The business's 50-day simple moving average is $41.46 and its 200-day simple moving average is $39.82.

Harrow (NASDAQ:HROW - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.28). Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%. The business had revenue of $70.66 million for the quarter, compared to analyst estimates of $70.35 million.

Analysts Set New Price Targets

HROW has been the subject of several recent analyst reports. Cantor Fitzgerald reduced their price objective on shares of Harrow from $91.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Zacks Research downgraded shares of Harrow from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Harrow from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Harrow in a report on Monday, July 20th. Finally, BTIG Research restated a "buy" rating and set a $63.00 price target on shares of Harrow in a research note on Tuesday, August 11th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.43.

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.

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