Harrow (NASDAQ:HROW) Trading Down 8.8% – What’s Next?

Shares of Harrow, Inc. (NASDAQ:HROW) traded down 8.8% during trading on Monday . The stock traded as low as $22.27 and last traded at $22.23. 152,856 shares were traded during trading, a decline of 54% from the average session volume of 331,406 shares. The stock had previously closed at $24.38.

Analyst Ratings Changes

A number of research firms recently weighed in on HROW. B. Riley lowered their target price on shares of Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. HC Wainwright initiated coverage on Harrow in a research report on Thursday, February 6th. They issued a “buy” rating and a $57.00 price objective on the stock.

Harrow Price Performance

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 firm’s fifty day moving average price is $31.65 and its 200 day moving average price is $39.53. The stock has a market cap of $791.37 million, a PE ratio of -23.64 and a beta of 0.69.

Institutional Trading of Harrow

Several hedge funds have recently bought and sold shares of the stock. Braidwell LP increased its holdings in shares of Harrow by 106.3% in the fourth quarter. Braidwell LP now owns 907,039 shares of the company’s stock worth $30,431,000 after purchasing an additional 467,401 shares during the last quarter. First Turn Management LLC bought a new stake in Harrow in the 3rd quarter worth approximately $14,683,000. JPMorgan Chase & Co. raised its holdings in shares of Harrow by 443.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock worth $10,717,000 after acquiring an additional 194,480 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Harrow by 195.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock worth $11,313,000 after acquiring an additional 166,602 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Harrow during the 3rd quarter valued at approximately $5,864,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.