Harrow (NASDAQ:HROW) Stock Price Down 3.6% – Here’s Why

Harrow, Inc. (NASDAQ:HROW) shares were down 3.6% on Monday . The stock traded as low as $40.63 and last traded at $41.35. Approximately 84,493 shares changed hands during trading, a decline of 83% from the average daily volume of 511,457 shares. The stock had previously closed at $42.90.

Wall Street Analysts Forecast Growth

HROW has been the topic of several recent research reports. B. Riley reissued a “buy” rating and issued a $50.00 price target on shares of Harrow in a report on Thursday, August 29th. Craig Hallum boosted their price target on shares of Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Lake Street Capital upped their price target on shares of Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 4th.

Harrow Price Performance

The business has a 50-day simple moving average of $47.88 and a two-hundred day simple moving average of $33.67. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 3.23. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -45.64 and a beta of 0.76.

Institutional Trading of Harrow

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Harrow during the third quarter valued at approximately $29,000. nVerses Capital LLC purchased a new stake in shares of Harrow in the second quarter valued at $33,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Harrow by 2,730.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock valued at $44,000 after purchasing an additional 2,048 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Harrow by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,283 shares of the company’s stock worth $57,000 after buying an additional 227 shares during the period. Finally, Hills Bank & Trust Co purchased a new position in shares of Harrow during the third quarter valued at $107,000. 72.76% of the stock is owned by hedge funds and other institutional investors.

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.