Harrow (NASDAQ:HROW) Stock Price Down 7.3% – Time to Sell?

Shares of Harrow, Inc. (NASDAQ:HROW) dropped 7.3% on Friday . The stock traded as low as $39.56 and last traded at $39.72. Approximately 156,991 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 506,457 shares. The stock had previously closed at $42.86.

Wall Street Analyst Weigh In

Several research firms have commented on HROW. Lake Street Capital raised their target price on shares of Harrow from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Craig Hallum increased their price objective on shares of Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, B. Riley reissued a “buy” rating and set a $50.00 target price on shares of Harrow in a report on Thursday, August 29th.

Harrow Trading Down 9.0 %

The company has a debt-to-equity ratio of 3.18, a current ratio of 2.60 and a quick ratio of 2.43. The business has a fifty day moving average of $47.92 and a 200-day moving average of $32.43. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -41.50 and a beta of 0.76.

Hedge Funds Weigh In On Harrow

Several hedge funds have recently made changes to their positions in HROW. Opaleye Management Inc. lifted its stake in Harrow by 2.6% during the first quarter. Opaleye Management Inc. now owns 3,920,600 shares of the company’s stock valued at $51,870,000 after purchasing an additional 100,600 shares during the last quarter. Private Capital Management LLC lifted its position in shares of Harrow by 7.8% during the 1st quarter. Private Capital Management LLC now owns 3,012,393 shares of the company’s stock valued at $39,854,000 after acquiring an additional 217,896 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Harrow by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,829,805 shares of the company’s stock worth $24,208,000 after acquiring an additional 21,253 shares in the last quarter. State Street Corp grew its holdings in shares of Harrow by 2.2% in the 3rd quarter. State Street Corp now owns 730,973 shares of the company’s stock worth $32,865,000 after acquiring an additional 15,554 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Harrow by 0.6% during the third quarter. Geode Capital Management LLC now owns 722,730 shares of the company’s stock worth $32,500,000 after purchasing an additional 3,960 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.

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.