Harrow (NASDAQ:HROW) Stock Price Down 4.9% - What's Next?

Key Points

• Harrow, Inc. shares dropped 4.9% to $38.07, with a significant decline in trading volume at 227,088 shares, compared to an average of 477,975 shares.
• Analysts maintain a positive outlook on Harrow, with seven rating it a "buy" and an average target price of $64.67.
• In its last quarter, Harrow reported an EPS of $0.24, exceeding expectations but with a slight revenue miss at $63.74 million against estimates of $64.23 million.

Harrow, Inc. (NASDAQ:HROW - Get Free Report) shares traded down 4.9% on Friday . The company traded as low as $37.70 and last traded at $38.07. 227,088 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 477,975 shares. The stock had previously closed at $40.01.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. BTIG Research reiterated a "buy" rating and issued a $63.00 price target (up from $62.00) on shares of Harrow in a research report on Thursday. Cantor Fitzgerald initiated coverage on Harrow in a research note on Friday, July 11th. They issued an "overweight" rating and a $76.00 price objective for the company. HC Wainwright set a $64.00 price objective on Harrow and gave the stock a "buy" rating in a research note on Wednesday. Finally, William Blair began coverage on Harrow in a research note on Tuesday, June 10th. They issued an "outperform" rating for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Harrow presently has an average rating of "Buy" and an average target price of $64.67.

Harrow Stock Performance

The business has a 50 day moving average of $32.99 and a 200 day moving average of $28.87. The company has a market capitalization of $1.42 billion, a P/E ratio of -153.70 and a beta of 0.41. The company has a quick ratio of 0.85, a current ratio of 0.62 and a debt-to-equity ratio of 0.78.

Harrow (NASDAQ:HROW - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.23. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%. The company had revenue of $63.74 million during the quarter, compared to analyst estimates of $64.23 million. On average, sell-side analysts predict that Harrow, Inc. will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in shares of Harrow in the 4th quarter worth about $25,000. Quarry LP bought a new stake in shares of Harrow during the first quarter worth $32,000. Raymond James Financial Inc. bought a new stake in shares of Harrow during the second quarter worth $48,000. Tower Research Capital LLC TRC lifted its holdings in Harrow by 769.5% during the 4th 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 in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Harrow during the 4th quarter valued at about $78,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.