Harrow (NASDAQ:HROW) Trading 7.3% Higher - Here's Why

Key Points

• Harrow, Inc. (NASDAQ:HROW) shares rose 7.3% during mid-day trading, reaching a last price of $42.31 from a previous close of $39.42, with a trading volume of 479,101 shares.
• Analysts are optimistic about Harrow, with a consensus rating of "Buy" and a target price of $64.67, following several upgrades from different financial institutions.
• Harrow reported quarterly earnings of $0.24 EPS, significantly exceeding analyst estimates of $0.01, while total revenue for the quarter was slightly below expectations at $63.74 million.

Harrow, Inc. (NASDAQ:HROW - Get Free Report) shares traded up 7.3% during mid-day trading on Monday . The company traded as high as $42.23 and last traded at $42.31. 479,101 shares were traded during mid-day trading, a decline of 0% from the average session volume of 480,625 shares. The stock had previously closed at $39.42.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Harrow in a report on Friday, July 11th. They issued an "overweight" rating and a $76.00 price objective on the stock. HC Wainwright raised their target price on Harrow from $60.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. William Blair began coverage on Harrow in a report on Tuesday, June 10th. They issued an "outperform" rating on the stock. BTIG Research increased their target price on shares of Harrow from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Finally, Zacks Research raised shares of Harrow from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Harrow presently has a consensus rating of "Buy" and a consensus target price of $64.67.

Harrow Trading Up 8.6%

The stock has a fifty day moving average of $36.35 and a 200 day moving average of $30.14. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.58 and a current ratio of 0.62. The company has a market capitalization of $1.58 billion, a PE ratio of -171.28 and a beta of 0.33.

Harrow (NASDAQ:HROW - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.24 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $64.23 million. Harrow has set its FY 2025 guidance at EPS. 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

A number of institutional investors and hedge funds have recently bought and sold shares of HROW. Northern Trust Corp increased its holdings in Harrow by 7.5% in the 4th quarter. Northern Trust Corp now owns 319,084 shares of the company's stock valued at $10,705,000 after acquiring an additional 22,266 shares during the last quarter. Deutsche Bank AG lifted its position in Harrow by 100.9% during the fourth quarter. Deutsche Bank AG now owns 108,064 shares of the company's stock valued at $3,626,000 after purchasing an additional 54,273 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Harrow by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,356 shares of the company's stock valued at $582,000 after purchasing an additional 585 shares during the last quarter. ProShare Advisors LLC lifted its position in Harrow by 30.8% during the fourth quarter. ProShare Advisors LLC now owns 10,289 shares of the company's stock valued at $345,000 after purchasing an additional 2,421 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new position in Harrow during the fourth quarter valued at $270,000. 72.76% of the stock is currently owned by institutional investors.

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.

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