Walleye Partners LLC Makes New $660,000 Investment in Harrow, Inc. $HROW

Walleye Partners LLC purchased a new stake in Harrow, Inc. (NASDAQ:HROW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,477 shares of the company’s stock, valued at approximately $660,000. Harrow makes up approximately 0.7% of Walleye Partners LLC’s holdings, making the stock its 21st largest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Penn Capital Management Company LLC acquired a new position in shares of Harrow in the 3rd quarter worth $15,717,000. Luxor Capital Group LP acquired a new position in shares of Harrow in the 3rd quarter valued at $14,807,000. New York State Common Retirement Fund boosted its position in shares of Harrow by 1,944.7% in the 3rd quarter. New York State Common Retirement Fund now owns 213,789 shares of the company’s stock valued at $10,300,000 after purchasing an additional 203,333 shares during the period. Bank of America Corp DE increased its stake in Harrow by 266.8% in the 2nd quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock worth $6,519,000 after purchasing an additional 155,258 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Harrow by 967.6% during the 2nd quarter. Invesco Ltd. now owns 150,948 shares of the company’s stock worth $4,610,000 after buying an additional 136,809 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Stock Down 2.6%

Shares of Harrow stock opened at $39.45 on Wednesday. Harrow, Inc. has a 1 year low of $21.12 and a 1 year high of $54.85. The company has a market cap of $1.47 billion, a P/E ratio of -232.05 and a beta of 0.31. The company has a current ratio of 2.20, a quick ratio of 2.06 and a debt-to-equity ratio of 4.67. The stock has a 50-day moving average price of $40.40 and a 200 day moving average price of $42.43.

Analyst Upgrades and Downgrades

A number of analysts have commented on HROW shares. Cantor Fitzgerald reduced their price objective on shares of Harrow from $94.00 to $91.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Harrow in a report on Thursday, March 19th. Zacks Research upgraded shares of Harrow from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. B. Riley Financial reaffirmed a “buy” rating and issued a $65.00 price objective (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Harrow has a consensus rating of “Moderate Buy” and an average target price of $69.86.

Harrow Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.