Harrow (NASDAQ:HROW) Trading Down 4.9% - Should You Sell?

Key Points

• Harrow, Inc. (NASDAQ:HROW) shares fell 4.9% during mid-day trading, reaching a low of $45.01 and closing at $45.40, with significantly reduced trading volume compared to the average.
• Analyst ratings are mixed, with Zacks Research downgrading the stock to a "hold," while other analysts maintain "buy" ratings and set price targets ranging from $64.00 to $76.00, suggesting a potential upside.
• Harrow reported $0.24 EPS for the last quarter, significantly outperforming expectations, although revenue fell short of analysts' forecasts, indicating mixed financial performance.

Shares of Harrow, Inc. (NASDAQ:HROW - Get Free Report) were down 4.9% during mid-day trading on Friday . The company traded as low as $45.01 and last traded at $45.40. Approximately 337,603 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 504,927 shares. The stock had previously closed at $47.73.

Analyst Ratings Changes

Several analysts have weighed in on HROW shares. Zacks Research downgraded Harrow from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. HC Wainwright reiterated a "buy" rating and issued a $64.00 price target on shares of Harrow in a report on Monday. Cantor Fitzgerald started coverage on shares of Harrow in a research note on Friday, July 11th. They set an "overweight" rating and a $76.00 price objective for the company. B. Riley reiterated a "buy" rating and issued a $74.00 price objective (up previously from $70.00) on shares of Harrow in a research note on Wednesday. Finally, William Blair began coverage on shares of Harrow in a research report on Tuesday, June 10th. They set an "outperform" rating for the company. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $68.50.

Harrow Trading Down 4.8%

The stock has a market cap of $1.68 billion, a PE ratio of -181.72 and a beta of 0.27. 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 50 day moving average of $39.38 and a two-hundred day moving average of $32.07.

Harrow (NASDAQ:HROW - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.23. The business had revenue of $63.74 million during the quarter, compared to analysts' expectations of $64.23 million. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%. Harrow has set its FY 2025 guidance at EPS. Sell-side analysts anticipate 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 modified their holdings of HROW. Braidwell LP boosted its holdings 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 buying an additional 49,800 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Harrow by 4.7% in the second quarter. Geode Capital Management LLC now owns 810,803 shares of the company's stock valued at $24,765,000 after acquiring an additional 36,724 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Harrow by 31.5% in the second quarter. Marshall Wace LLP now owns 564,876 shares of the company's stock worth $17,251,000 after acquiring an additional 135,202 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Harrow by 4,035.5% during the first quarter. Voya Investment Management LLC now owns 381,461 shares of the company's stock worth $10,147,000 after purchasing an additional 372,237 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Harrow by 12.0% in the 1st quarter. Royce & Associates LP now owns 327,096 shares of the company's stock valued at $8,701,000 after purchasing an additional 35,006 shares during the last quarter. Hedge funds and other 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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