Harrow (NASDAQ:HROW) Stock Price Down 4.7% - Time to Sell?

Shares of Harrow, Inc. (NASDAQ:HROW - Get Free Report) traded down 4.7% on Wednesday . The stock traded as low as $54.11 and last traded at $54.29. 89,325 shares changed hands during trading, a decline of 82% from the average session volume of 491,874 shares. The stock had previously closed at $56.98.

Analysts Set New Price Targets

A number of research analysts have issued reports on HROW shares. B. Riley reissued a "buy" rating and issued a $50.00 target price on shares of Harrow in a research note on Thursday, August 29th. Lake Street Capital boosted their price objective on Harrow from $45.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, Craig Hallum raised their target price on shares of Harrow from $45.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, October 4th.

Harrow Stock Performance

The stock has a fifty day moving average of $45.07 and a 200-day moving average of $27.95. The firm has a market capitalization of $1.92 billion, a P/E ratio of -58.24 and a beta of 0.75. The company has a quick ratio of 2.43, a current ratio of 2.60 and a debt-to-equity ratio of 3.18.

Harrow (NASDAQ:HROW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.12. The company had revenue of $48.94 million during the quarter, compared to analysts' expectations of $42.78 million. Harrow had a negative net margin of 21.78% and a negative return on equity of 40.59%. On average, research analysts anticipate that Harrow, Inc. will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Harrow

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new stake in shares of Harrow in the third quarter valued at about $8,572,000. Clarus Group Inc. acquired a new position in shares of Harrow during the 3rd quarter worth approximately $225,000. Bleakley Financial Group LLC acquired a new position in shares of Harrow during the 3rd quarter worth approximately $242,000. SG Americas Securities LLC bought a new stake in shares of Harrow during the 3rd quarter worth approximately $534,000. Finally, Creative Planning boosted its holdings in shares of Harrow by 96.8% in the 2nd quarter. Creative Planning now owns 29,486 shares of the company's stock valued at $616,000 after buying an additional 14,500 shares during the last quarter. 72.76% of the stock is 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.