Harrow (NASDAQ:HROW) Stock Price Down 4.9% – What’s Next?

Harrow, Inc. (NASDAQ:HROW) shares were down 4.9% during trading on Wednesday . The stock traded as low as $34.59 and last traded at $34.35. Approximately 202,454 shares changed hands during trading, a decline of 32% from the average daily volume of 295,937 shares. The stock had previously closed at $36.10.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. B. Riley decreased their price target on Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Lake Street Capital boosted their target price on Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Craig Hallum raised their price target on shares of Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 4th.

Harrow Stock Performance

The company has a market cap of $1.19 billion, a price-to-earnings ratio of -35.50 and a beta of 0.72. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.44 and a current ratio of 1.55. The company has a fifty day moving average of $36.87 and a two-hundred day moving average of $39.13.

Institutional Trading of Harrow

A number of hedge funds have recently made changes to their positions in the company. Marshall Wace LLP bought a new position in Harrow in the 2nd quarter valued at approximately $1,112,000. Deerfield Management Company L.P. Series C lifted its holdings in shares of Harrow by 55.7% during the second quarter. Deerfield Management Company L.P. Series C now owns 25,447 shares of the company’s stock worth $532,000 after purchasing an additional 9,105 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Harrow by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 11,865 shares of the company’s stock worth $248,000 after purchasing an additional 567 shares during the last quarter. Creative Planning increased its holdings in Harrow by 96.8% in the second quarter. Creative Planning now owns 29,486 shares of the company’s stock valued at $616,000 after purchasing an additional 14,500 shares during the period. Finally, SG Americas Securities LLC bought a new position in Harrow during the 3rd quarter worth $534,000. 72.76% of the stock is owned by institutional investors and hedge funds.

Harrow Company 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.