Harrow (NASDAQ:HROW) Stock Price Down 4.9% – Here’s What Happened

Harrow, Inc. (NASDAQ:HROW) shares fell 4.9% on Wednesday . The stock traded as low as $34.59 and last traded at $34.35. 202,454 shares changed hands during trading, a decline of 32% from the average session volume of 295,937 shares. The stock had previously closed at $36.10.

Analyst Ratings Changes

Several research firms have recently weighed in on HROW. Craig Hallum increased their price objective on shares of Harrow from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Lake Street Capital increased their target price on shares of Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, B. Riley cut their target price on shares of Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th.

Harrow Price Performance

The company has a fifty day moving average of $37.79 and a 200-day moving average of $39.02. The firm has a market cap of $1.23 billion, a P/E ratio of -36.76 and a beta of 0.72. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.55 and a quick ratio of 1.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in Harrow by 2.2% in the third quarter. State Street Corp now owns 730,973 shares of the company’s stock worth $32,865,000 after purchasing an additional 15,554 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Harrow by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 722,730 shares of the company’s stock valued at $32,500,000 after buying an additional 3,960 shares during the last quarter. Braidwell LP lifted its position in shares of Harrow by 47.9% during the 3rd quarter. Braidwell LP now owns 439,638 shares of the company’s stock valued at $19,766,000 after buying an additional 142,450 shares during the last quarter. First Turn Management LLC purchased a new stake in Harrow during the 3rd quarter worth about $14,683,000. Finally, Rice Hall James & Associates LLC lifted its holdings in Harrow by 23.1% during the 3rd quarter. Rice Hall James & Associates LLC now owns 314,881 shares of the company’s stock worth $14,157,000 after purchasing an additional 59,019 shares in 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.