Harrow (NASDAQ:HROW) Shares Down 4.1% – Here’s Why

Harrow, Inc. (NASDAQ:HROW) shares were down 4.1% on Thursday . The company traded as low as $33.91 and last traded at $33.94. Approximately 55,004 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 292,720 shares. The stock had previously closed at $35.40.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HROW shares. Lake Street Capital lifted their price target on shares of Harrow from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 4th. B. Riley decreased their price target on shares of Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Finally, Craig Hallum raised their target price on shares of Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 4th.

Harrow Stock Performance

The stock’s 50 day moving average price is $38.15 and its 200 day moving average price is $38.69. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 3.23. The firm has a market cap of $1.21 billion, a PE ratio of -36.01 and a beta of 0.72.

Institutional Investors Weigh In On Harrow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HROW. First Turn Management LLC purchased a new stake in Harrow during the 3rd quarter worth $14,683,000. JPMorgan Chase & Co. increased its stake in Harrow by 443.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock worth $10,717,000 after buying an additional 194,480 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Harrow during the 3rd quarter worth $8,572,000. Charles Schwab Investment Management Inc. increased its stake in Harrow by 195.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock worth $11,313,000 after buying an additional 166,602 shares during the period. Finally, Braidwell LP increased its stake in Harrow by 47.9% during the 3rd quarter. Braidwell LP now owns 439,638 shares of the company’s stock worth $19,766,000 after buying an additional 142,450 shares during the period. 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.