Harrow (NASDAQ:HROW) Shares Down 4.8% – Should You Sell?

Shares of Harrow, Inc. (NASDAQ:HROW) traded down 4.8% during trading on Thursday . The stock traded as low as $42.93 and last traded at $42.92. Approximately 323,427 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 764,677 shares. The stock had previously closed at $45.07.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HROW shares. Wall Street Zen lowered shares of Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Harrow in a report on Thursday, March 19th. B. Riley Financial reaffirmed a “buy” rating and issued a $65.00 price target (down from $74.00) on shares of Harrow in a research report on Tuesday, April 7th. Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Weiss Ratings lowered Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.43.

Harrow Stock Down 4.4%

The firm has a 50 day simple moving average of $37.59 and a two-hundred day simple moving average of $41.35. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -104.88 and a beta of 0.26.

Harrow (NASDAQ:HROW) last posted its earnings results on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.31). The company had revenue of $44.20 million for the quarter, compared to analyst estimates of $52.43 million. Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.During the same quarter in the previous year, the firm posted ($0.38) earnings per share. As a group, sell-side analysts expect that Harrow, Inc. will post 0.29 EPS for the current year.

Insider Activity at Harrow

In other news, CFO Andrew R. Boll acquired 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $29.90 per share, for a total transaction of $104,650.00. Following the completion of the acquisition, the chief financial officer owned 814,679 shares in the company, valued at $24,358,902.10. This trade represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Adrienne L. Graves bought 1,000 shares of the stock in a transaction on Monday, May 18th. The stock was purchased at an average cost of $31.07 per share, with a total value of $31,070.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $31,070. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 12.80% of the stock is owned by company insiders.

Institutional Trading of Harrow

Large investors have recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in Harrow during the fourth quarter worth about $26,000. KBC Group NV bought a new stake in shares of Harrow in the first quarter worth about $31,000. Raymond James Financial Inc. acquired a new stake in shares of Harrow during the second quarter worth about $48,000. SBI Securities Co. Ltd. raised its position in shares of Harrow by 393.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock worth $52,000 after purchasing an additional 846 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Harrow by 25.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company’s stock valued at $88,000 after purchasing an additional 369 shares in the last quarter. Institutional investors own 72.76% of the company’s stock.

About Harrow

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.