Harrow (NASDAQ:HROW) Trading 5.1% Higher - Here's Why

Harrow, Inc. (NASDAQ:HROW - Get Free Report) shares were up 5.1% during trading on Wednesday . The stock traded as high as $26.05 and last traded at $26.24. Approximately 69,221 shares traded hands during trading, a decline of 86% from the average daily volume of 499,486 shares. The stock had previously closed at $24.98.

Wall Street Analyst Weigh In

HROW has been the subject of several recent analyst reports. HC Wainwright restated a "buy" rating and issued a $57.00 price target on shares of Harrow in a research note on Monday, March 31st. B. Riley reduced their price objective on Harrow from $69.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, April 1st.

Harrow Stock Performance

The business's 50 day simple moving average is $27.98 and its two-hundred day simple moving average is $37.36. The firm has a market capitalization of $838.58 million, a PE ratio of -25.02 and a beta of 0.46. 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 - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.14. The company had revenue of $66.83 million for the quarter, compared to the consensus estimate of $66.01 million. Harrow had a negative return on equity of 45.57% and a negative net margin of 19.75%. Research analysts expect that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

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Institutional Trading of Harrow

Several large investors have recently added to or reduced their stakes in HROW. JPMorgan Chase & Co. increased its stake in shares of Harrow by 443.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company's stock worth $10,717,000 after purchasing an additional 194,480 shares in the last quarter. Barclays PLC raised its stake in shares of Harrow by 301.9% in the third quarter. Barclays PLC now owns 52,593 shares of the company's stock worth $2,365,000 after buying an additional 39,506 shares during the period. State Street Corp raised its stake in shares of Harrow by 2.2% in the third quarter. State Street Corp now owns 730,973 shares of the company's stock worth $32,865,000 after buying an additional 15,554 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 valued at $11,313,000 after buying an additional 166,602 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Harrow during the 3rd quarter valued at approximately $1,469,000. 72.76% of the stock is currently owned by institutional investors.

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.