Clarus Group Inc. Purchases New Shares in Harrow, Inc. (NASDAQ:HROW)

Clarus Group Inc. bought a new stake in Harrow, Inc. (NASDAQ:HROW) in the third quarter, Holdings Channel reports. The institutional investor bought 5,000 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds have also made changes to their positions in the business. nVerses Capital LLC acquired a new position in shares of Harrow during the second quarter worth about $33,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Harrow by 2,730.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock worth $44,000 after acquiring an additional 2,048 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in Harrow during the third quarter worth $242,000. The Manufacturers Life Insurance Company raised its stake in shares of Harrow by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,865 shares of the company’s stock worth $248,000 after buying an additional 567 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Harrow in the 3rd quarter worth about $534,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Trading Down 1.3 %

Shares of Harrow stock traded down $0.76 during trading hours on Monday, hitting $56.72. The company’s stock had a trading volume of 247,227 shares, compared to its average volume of 492,320. The business has a fifty day moving average of $44.27 and a 200 day moving average of $27.34. Harrow, Inc. has a 1-year low of $7.60 and a 1-year high of $59.23. The company has a quick ratio of 2.43, a current ratio of 2.60 and a debt-to-equity ratio of 3.18. The company has a market capitalization of $2.01 billion, a PE ratio of -60.51 and a beta of 0.75.

Harrow (NASDAQ:HROW) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.12. Harrow had a negative return on equity of 40.59% and a negative net margin of 21.78%. The firm had revenue of $48.94 million during the quarter, compared to the consensus estimate of $42.78 million. As a group, equities analysts forecast that Harrow, Inc. will post -0.14 EPS for the current year.

Analysts Set New Price Targets

HROW has been the topic of a number of recent research reports. Craig Hallum upped their target price on Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Lake Street Capital increased their price objective on Harrow from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, B. Riley restated a “buy” rating and set a $50.00 price objective on shares of Harrow in a report on Thursday, August 29th.

Harrow Profile

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.