Harrow (NASDAQ:HROW) Shares Down 4.9% – Should You Sell?

Shares of Harrow, Inc. (NASDAQ:HROW) traded down 4.9% during trading on Friday . The stock traded as low as $37.70 and last traded at $38.07. 227,088 shares traded hands during trading, a decline of 52% from the average session volume of 477,975 shares. The stock had previously closed at $40.01.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HROW shares. HC Wainwright lifted their target price on shares of Harrow from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald started coverage on Harrow in a research note on Friday, July 11th. They issued an “overweight” rating and a $76.00 price objective for the company. William Blair assumed coverage on Harrow in a research report on Tuesday, June 10th. They set an “outperform” rating for the company. Finally, BTIG Research reissued a “buy” rating and issued a $63.00 price target (up from $62.00) on shares of Harrow in a report on Thursday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $64.67.

Harrow Trading Down 3.0%

The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.85. The stock has a 50-day moving average price of $33.18 and a two-hundred day moving average price of $28.88. The stock has a market cap of $1.44 billion, a PE ratio of -155.28 and a beta of 0.41.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. The company had revenue of $63.74 million during the quarter, compared to analyst estimates of $64.23 million. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%. Sell-side analysts forecast that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harrow

A number of hedge funds have recently bought and sold shares of HROW. GF Fund Management CO. LTD. purchased a new stake in shares of Harrow during the 4th quarter valued at about $25,000. Quarry LP bought a new stake in Harrow during the first quarter worth approximately $32,000. Raymond James Financial Inc. bought a new stake in shares of Harrow in the 2nd quarter valued at approximately $48,000. Tower Research Capital LLC TRC boosted its holdings in shares of Harrow by 769.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company’s stock worth $55,000 after purchasing an additional 1,462 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in shares of Harrow during the 4th quarter valued at approximately $78,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.