Equitable Trust Co. Purchases 7,465 Shares of Harrow, Inc. $HROW

Key Points

• Equitable Trust Co. increased its holdings in Harrow, Inc. by 15.7% in Q2, owning 55,035 shares valued at approximately $1.68 million after acquiring an additional 7,465 shares.
• Analysts have set optimistic price targets for Harrow, Inc., with B. Riley raising its target to $74.00 and multiple firms maintaining a "buy" rating, leading to an average target of $68.50.
• Harrow, Inc. reported a negative net margin of 4.49% and revenue of $22.12 million for its last quarter, with predictions for an annual EPS of -0.53.

Equitable Trust Co. raised its position in Harrow, Inc. (NASDAQ:HROW - Free Report) by 15.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,035 shares of the company's stock after purchasing an additional 7,465 shares during the period. Equitable Trust Co. owned 0.15% of Harrow worth $1,681,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Braidwell LP boosted its holdings in Harrow by 5.5% in the 1st quarter. Braidwell LP now owns 956,839 shares of the company's stock valued at $25,452,000 after purchasing an additional 49,800 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Harrow by 4,035.5% during the 1st quarter. Voya Investment Management LLC now owns 381,461 shares of the company's stock worth $10,147,000 after acquiring an additional 372,237 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Harrow by 12.0% during the 1st 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 during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of Harrow by 6.3% during the 1st quarter. Westside Investment Management Inc. now owns 173,856 shares of the company's stock worth $4,625,000 after acquiring an additional 10,315 shares during the last quarter. Finally, Woodmont Investment Counsel LLC lifted its holdings in shares of Harrow by 2.4% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 106,213 shares of the company's stock worth $3,244,000 after acquiring an additional 2,520 shares during the last quarter. 72.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HROW has been the subject of a number of research analyst reports. B. Riley reaffirmed a "buy" rating and set a $74.00 price objective (up from $70.00) on shares of Harrow in a report on Wednesday, October 1st. Craig Hallum lifted their price objective on shares of Harrow from $54.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Lake Street Capital lifted their price objective on shares of Harrow from $42.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, September 29th. HC Wainwright reaffirmed a "buy" rating and set a $64.00 price objective on shares of Harrow in a report on Monday, September 29th. Finally, BTIG Research reissued a "buy" rating and issued a $63.00 price target on shares of Harrow in a research note on Wednesday, September 24th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Harrow presently has an average rating of "Moderate Buy" and an average price target of $68.50.

Harrow Price Performance

HROW stock opened at $39.36 on Wednesday. The firm's 50-day moving average price is $40.52 and its two-hundred day moving average price is $32.81. Harrow, Inc. has a 12-month low of $20.85 and a 12-month high of $59.23. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -157.44 and a beta of 0.27. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 0.78.

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

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