Harrow (NASDAQ:HROW) Shares Down 8.8% – Should You Sell?

Harrow, Inc. (NASDAQ:HROW) shares were down 8.8% during mid-day trading on Monday . The company traded as low as $22.27 and last traded at $22.23. Approximately 152,856 shares changed hands during trading, a decline of 54% from the average daily volume of 331,406 shares. The stock had previously closed at $24.38.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HROW shares. B. Riley lowered their target price on shares of Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. HC Wainwright began coverage on shares of Harrow in a research report on Thursday, February 6th. They issued a “buy” rating and a $57.00 price objective for the company.

Harrow Price Performance

The firm has a 50 day moving average price of $31.22 and a two-hundred day moving average price of $39.26. The company has a market cap of $844.25 million, a P/E ratio of -24.34 and a beta of 0.69. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.44 and a current ratio of 1.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HROW. Braidwell LP boosted its holdings in shares of Harrow by 106.3% in the fourth quarter. Braidwell LP now owns 907,039 shares of the company’s stock worth $30,431,000 after acquiring an additional 467,401 shares during the period. First Turn Management LLC bought a new position in Harrow in the 3rd quarter worth about $14,683,000. JPMorgan Chase & Co. grew its holdings in Harrow by 443.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock valued at $10,717,000 after buying an additional 194,480 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Harrow by 195.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock valued at $11,313,000 after buying an additional 166,602 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Harrow in the third quarter worth about $5,864,000. 72.76% of the stock is owned by institutional investors.

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.