Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Harrow, Inc. $HROW

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Harrow, Inc. by 55.2%, selling 61,794 shares and retaining 50,100 shares valued at approximately $1.33 million.
• Several institutional investors have increased their holdings in Harrow, including GAMMA Investing LLC, which raised its stake by 2,401.2% in the 1st quarter.
• Harrow, Inc. posted an earnings per share of $0.24 for the latest quarter, significantly beating analyst expectations, and has an average price target of $64.67 with a consensus rating of “Buy” from analysts.

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Harrow, Inc. (NASDAQ:HROW - Free Report) by 55.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,100 shares of the company's stock after selling 61,794 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of Harrow worth $1,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in Harrow during the fourth quarter valued at $25,000. Tower Research Capital LLC TRC lifted its position in Harrow by 769.5% during 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 purchased a new position in Harrow during the fourth quarter valued at $78,000. GAMMA Investing LLC lifted its position in Harrow by 2,401.2% during the first quarter. GAMMA Investing LLC now owns 6,278 shares of the company's stock valued at $1,670,000 after buying an additional 6,027 shares during the period. Finally, Federated Hermes Inc. purchased a new position in Harrow during the fourth quarter valued at $214,000. Hedge funds and other institutional investors own 72.76% of the company's stock.

Harrow Stock Down 0.2%

Shares of HROW traded down $0.07 during trading hours on Thursday, hitting $38.16. The company had a trading volume of 382,710 shares, compared to its average volume of 655,839. The firm has a fifty day moving average price of $33.76 and a 200-day moving average price of $29.10. 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 stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -152.64 and a beta of 0.41. Harrow, Inc. has a 52-week low of $20.85 and a 52-week high of $59.23.

Harrow (NASDAQ:HROW - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.23. The firm had revenue of $63.74 million during the quarter, compared to analyst estimates of $64.23 million. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%. Harrow has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. William Blair assumed coverage on Harrow in a research report on Tuesday, June 10th. They set an "outperform" rating for the company. BTIG Research raised their price objective on Harrow from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Zacks Research raised Harrow from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. HC Wainwright raised their price objective on Harrow from $60.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Finally, Cantor Fitzgerald initiated coverage on Harrow in a research report on Friday, July 11th. They issued an "overweight" rating and a $76.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $64.67.

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.