Harrow (NASDAQ:HROW) Stock Price Down 2.5% - Here's What Happened

Harrow, Inc. (NASDAQ:HROW - Get Free Report)'s stock price traded down 2.5% during mid-day trading on Tuesday . The stock traded as low as $33.06 and last traded at $33.15. 35,077 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 500,295 shares. The stock had previously closed at $34.01.

Analysts Set New Price Targets

A number of research firms have recently commented on HROW. B. Riley reduced their target price on shares of Harrow from $73.00 to $69.00 and set a "buy" rating on the stock in a research report on Wednesday, December 4th. Craig Hallum upped their price objective on shares of Harrow from $45.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, Lake Street Capital lifted their target price on Harrow from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, October 4th.

Harrow Trading Down 0.5 %

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 has a market cap of $1.20 billion, a P/E ratio of -35.99 and a beta of 0.69. The business's 50 day moving average is $44.22 and its 200-day moving average is $36.90.

Institutional Trading of Harrow

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in Harrow by 16.6% during the second quarter. Bank of New York Mellon Corp now owns 88,210 shares of the company's stock worth $1,843,000 after acquiring an additional 12,580 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Harrow by 2,730.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company's stock worth $44,000 after purchasing an additional 2,048 shares during the last quarter. nVerses Capital LLC acquired a new position in Harrow during the 2nd quarter valued at approximately $33,000. Drive Wealth Management LLC grew its stake in Harrow by 63.1% during the 2nd quarter. Drive Wealth Management LLC now owns 29,551 shares of the company's stock worth $617,000 after buying an additional 11,434 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Harrow by 8.2% in the second quarter. Rhumbline Advisers now owns 43,021 shares of the company's stock worth $899,000 after buying an additional 3,253 shares during the period. 72.76% of the stock is owned by institutional investors and hedge funds.

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.