Harrow (NASDAQ:HROW) Shares Gap Up on Better-Than-Expected Earnings

Harrow, Inc. (NASDAQ:HROW) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $27.87, but opened at $30.18. Harrow shares last traded at $28.19, with a volume of 513,909 shares.

The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. The firm had revenue of $66.83 million for the quarter, compared to analyst estimates of $66.01 million. Harrow had a negative net margin of 19.75% and a negative return on equity of 45.57%.

Analysts Set New Price Targets

A number of analysts have commented on HROW shares. HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of Harrow in a research report on Tuesday, March 18th. B. Riley lowered their price target on Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th.

Institutional Investors Weigh In On Harrow

A number of hedge funds and other institutional investors have recently bought and sold shares of HROW. GF Fund Management CO. LTD. bought a new position in shares of Harrow during the 4th quarter worth approximately $25,000. Quest Partners LLC bought a new stake in Harrow in the third quarter valued at approximately $29,000. Tower Research Capital LLC TRC raised its stake in Harrow by 769.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company’s stock valued at $55,000 after buying an additional 1,462 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Harrow in the fourth quarter valued at approximately $78,000. Finally, AlphaQuest LLC boosted its stake in shares of Harrow by 452.8% during the 4th quarter. AlphaQuest LLC now owns 3,527 shares of the company’s stock worth $118,000 after acquiring an additional 2,889 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Price Performance

The business has a fifty day moving average of $29.05 and a two-hundred day moving average of $38.10. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.44 and a current ratio of 1.55. The firm has a market capitalization of $998.40 million, a price-to-earnings ratio of -29.91 and a beta of 0.69.

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.