Harrow (NASDAQ:HROW) Shares Down 7.7% After Analyst Downgrade

Harrow, Inc. (NASDAQ:HROW) was down 7.7% during trading on Tuesday after B. Riley lowered their price target on the stock from $69.00 to $65.00. B. Riley currently has a buy rating on the stock. Harrow traded as low as $24.53 and last traded at $24.55. Approximately 152,015 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 497,613 shares. The stock had previously closed at $26.60.

Separately, HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Harrow in a research report on Monday.

Institutional Investors Weigh In On Harrow

Several hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new stake in Harrow during the 4th quarter worth approximately $25,000. Tower Research Capital LLC TRC lifted its holdings in shares of Harrow by 769.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company’s stock worth $55,000 after buying an additional 1,462 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Harrow in the fourth quarter valued at about $78,000. AlphaQuest LLC grew its stake in shares of Harrow by 452.8% in the fourth quarter. AlphaQuest LLC now owns 3,527 shares of the company’s stock valued at $118,000 after acquiring an additional 2,889 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Harrow during the third quarter worth about $271,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Harrow Stock Up 4.3 %

The firm’s 50 day simple moving average is $28.36 and its two-hundred day simple moving average is $37.63. The firm has a market cap of $927.77 million, a price-to-earnings ratio of -27.71 and a beta of 0.69. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 3.23.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Thursday, March 27th. 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 return on equity of 45.57% and a negative net margin of 19.75%. On average, equities analysts forecast that Harrow, Inc. will post -0.53 EPS for the current year.

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.