Harrow (NASDAQ:HROW) Shares Down 4.4% – Time to Sell?

Harrow, Inc. (NASDAQ:HROW)’s stock price traded down 4.4% during mid-day trading on Wednesday . The stock traded as low as $44.55 and last traded at $45.60. 186,130 shares changed hands during trading, a decline of 69% from the average session volume of 609,366 shares. The stock had previously closed at $47.72.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HROW shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research report on Wednesday, October 8th. Craig Hallum increased their price target on Harrow from $54.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. BTIG Research reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Harrow in a research note on Wednesday, September 24th. LADENBURG THALM/SH SH raised their price target on shares of Harrow from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Zacks Research raised shares of Harrow from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Harrow has a consensus rating of “Moderate Buy” and a consensus price target of $71.43.

Harrow Price Performance

The firm has a market capitalization of $1.75 billion, a PE ratio of -472.06 and a beta of 0.02. The business has a 50-day moving average of $45.88 and a 200 day moving average of $41.03. The company has a current ratio of 2.72, a quick ratio of 2.52 and a debt-to-equity ratio of 5.21.

Harrow (NASDAQ:HROW) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Harrow had a negative net margin of 1.99% and a positive return on equity of 28.71%. The company had revenue of $71.64 million for the quarter, compared to the consensus estimate of $73.70 million. As a group, research analysts anticipate that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HROW. Royal Bank of Canada lifted its holdings in shares of Harrow by 102.5% during the first quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock valued at $261,000 after purchasing an additional 4,967 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Harrow by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock valued at $483,000 after purchasing an additional 790 shares during the period. Strs Ohio purchased a new stake in shares of Harrow during the 1st quarter valued at about $149,000. SJS Investment Consulting Inc. increased its position in shares of Harrow by 97.6% during the 2nd quarter. SJS Investment Consulting Inc. now owns 6,073 shares of the company’s stock valued at $185,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Maridea Wealth Management LLC bought a new stake in shares of Harrow during the 2nd quarter valued at $202,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Company Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.