Harrow (NASDAQ:HROW) Stock Price Down 2.5% – Here’s Why

Harrow, Inc. (NASDAQ:HROW) dropped 2.5% during trading on Tuesday . The company traded as low as $33.06 and last traded at $33.15. Approximately 35,077 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 500,295 shares. The stock had previously closed at $34.01.

Analyst Upgrades and Downgrades

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

Harrow Stock Performance

The company has a market capitalization of $1.20 billion, a PE ratio of -35.99 and a beta of 0.69. The firm has a 50-day moving average of $43.82 and a two-hundred day moving average of $37.01. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 3.23.

Hedge Funds Weigh In On Harrow

Several institutional investors have recently made changes to their positions in HROW. Oppenheimer & Co. Inc. purchased a new stake in Harrow during the third quarter worth $1,267,000. Penserra Capital Management LLC acquired a new position in shares of Harrow in the third quarter worth about $1,986,000. SG Americas Securities LLC purchased a new stake in shares of Harrow during the 3rd quarter worth about $534,000. Semanteon Capital Management LP acquired a new stake in shares of Harrow during the 3rd quarter valued at about $686,000. Finally, Creative Planning grew its position in shares of Harrow by 96.8% during the 2nd quarter. Creative Planning now owns 29,486 shares of the company’s stock valued at $616,000 after acquiring an additional 14,500 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.

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.