Harrow (NASDAQ:HROW) Shares Up 5.7% - Here's Why

Harrow, Inc. (NASDAQ:HROW - Get Free Report)'s stock price rose 5.7% on Monday . The company traded as high as $37.27 and last traded at $36.91. Approximately 192,886 shares were traded during trading, a decline of 61% from the average daily volume of 496,404 shares. The stock had previously closed at $34.93.

Analyst Upgrades and Downgrades

HROW has been the topic of a number of recent analyst reports. HC Wainwright upped their price target on shares of Harrow from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Cantor Fitzgerald initiated coverage on shares of Harrow in a research note on Friday. They set an "overweight" rating and a $76.00 price target on the stock. B. Riley lowered their price target on shares of Harrow from $69.00 to $65.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. BTIG Research began coverage on shares of Harrow in a research note on Thursday, June 12th. They set a "buy" rating and a $62.00 price target on the stock. Finally, William Blair began coverage on shares of Harrow in a research note on Tuesday, June 10th. They issued an "outperform" rating on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $63.83.

Harrow Stock Performance

The firm has a market capitalization of $1.31 billion, a PE ratio of -63.61 and a beta of 0.41. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.85 and a current ratio of 0.91. The company's fifty day moving average price is $29.03 and its two-hundred day moving average price is $28.74.

Harrow (NASDAQ:HROW - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.40). Harrow had a negative net margin of 10.19% and a negative return on equity of 25.01%. The business had revenue of $47.83 million during the quarter, compared to analysts' expectations of $57.00 million. As a group, equities analysts expect that Harrow, Inc. will post -0.53 earnings per share for the current year.

Institutional Trading of Harrow

Several large investors have recently bought and sold shares of HROW. GF Fund Management CO. LTD. acquired a new stake in Harrow in the fourth quarter valued at approximately $25,000. Quarry LP acquired a new stake in shares of Harrow during the first quarter worth approximately $32,000. Tower Research Capital LLC TRC grew its position in shares of Harrow by 769.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company's stock worth $55,000 after buying an additional 1,462 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Harrow during the fourth quarter worth approximately $78,000. Finally, State of Wyoming acquired a new stake in shares of Harrow during the first quarter worth approximately $97,000. Institutional investors and hedge funds own 72.76% of the company's stock.

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.