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

Key Points

• Harrow, Inc. (NASDAQ:HROW) saw its shares rise by 3.9% to trade at $37.92, despite a substantial decline in trading volume by 54% from the average session.
• Several analysts have given positive ratings on the stock, with a consensus price target of $64.67, indicating potential growth for investors.
• Harrow reported $0.24 earnings per share, significantly beating analyst expectations, although its revenue for the quarter slightly fell short of estimates.

Shares of Harrow, Inc. (NASDAQ:HROW - Get Free Report) traded up 3.9% during trading on Thursday . The stock traded as high as $38.17 and last traded at $37.92. 216,793 shares were traded during mid-day trading, a decline of 54% from the average session volume of 473,546 shares. The stock had previously closed at $36.50.

Wall Street Analysts Forecast Growth

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

Harrow Trading Up 5.7%

The company has a quick ratio of 0.85, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The business's fifty day simple moving average is $32.77 and its two-hundred day simple moving average is $28.81. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -154.28 and a beta of 0.41.

Harrow (NASDAQ:HROW - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $64.23 million. On average, equities analysts predict that Harrow, Inc. will post -0.53 EPS for the current year.

Institutional Trading of Harrow

Several hedge funds have recently made changes to their positions in HROW. GF Fund Management CO. LTD. acquired a new stake in shares of Harrow in the fourth quarter worth about $25,000. Quarry LP bought a new stake in Harrow during the first quarter worth $32,000. Tower Research Capital LLC TRC increased its holdings 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 bought a new stake in shares of Harrow in the fourth quarter worth $78,000. Finally, State of Wyoming bought a new stake in shares of Harrow in the first quarter worth $97,000. 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.

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