Harrow (NASDAQ:HROW) Trading Up 3.9% - Here's Why

Harrow, Inc. (NASDAQ:HROW - Get Free Report)'s stock price shot up 3.9% during mid-day trading on Friday . The stock traded as high as $28.18 and last traded at $28.27. 118,540 shares traded hands during trading, a decline of 76% from the average session volume of 494,871 shares. The stock had previously closed at $27.20.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HROW shares. HC Wainwright upped their target price on Harrow from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. B. Riley cut their price objective on Harrow from $69.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, April 1st.

Harrow Price Performance

The business's fifty day moving average price is $25.22 and its 200-day moving average price is $30.24. The company has a market capitalization of $1.08 billion, a P/E ratio of -31.21 and a beta of 0.41. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 3.23.

Harrow (NASDAQ:HROW - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.40). The firm had revenue of $47.83 million for the quarter, compared to the consensus estimate of $57.00 million. Harrow had a negative return on equity of 45.57% and a negative net margin of 19.75%. As a group, sell-side analysts predict that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Harrow

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Harrow by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 1,872,100 shares of the company's stock worth $62,809,000 after acquiring an additional 5,225 shares in the last quarter. Braidwell LP raised its position in Harrow by 5.5% in the 1st quarter. Braidwell LP now owns 956,839 shares of the company's stock worth $25,452,000 after purchasing an additional 49,800 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in Harrow by 6.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 664,714 shares of the company's stock worth $22,301,000 after purchasing an additional 41,896 shares during the last quarter. Royce & Associates LP boosted its position in Harrow by 12.0% during the first quarter. Royce & Associates LP now owns 327,096 shares of the company's stock valued at $8,701,000 after buying an additional 35,006 shares during the period. Finally, Northern Trust Corp boosted its position in Harrow by 7.5% during the fourth quarter. Northern Trust Corp now owns 319,084 shares of the company's stock valued at $10,705,000 after buying an additional 22,266 shares during the period. Hedge funds and other institutional investors own 72.76% of the company's stock.

Harrow Company 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.