Harrow (NASDAQ:HROW) Shares Gap Up Following Strong Earnings

Shares of Harrow, Inc. (NASDAQ:HROW) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $27.87, but opened at $30.18. Harrow shares last traded at $28.19, with a volume of 513,909 shares trading hands.

The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. The firm had revenue of $66.83 million for the quarter, compared to analyst estimates of $66.01 million. Harrow had a negative net margin of 19.75% and a negative return on equity of 45.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HROW shares. HC Wainwright reissued a “buy” rating and issued a $57.00 price objective on shares of Harrow in a research note on Tuesday, March 18th. B. Riley cut their price target on Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 4th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of Harrow by 443.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock valued at $10,717,000 after buying an additional 194,480 shares during the period. Barclays PLC boosted its holdings in Harrow by 301.9% in the third quarter. Barclays PLC now owns 52,593 shares of the company’s stock valued at $2,365,000 after acquiring an additional 39,506 shares during the last quarter. State Street Corp increased its position in Harrow by 2.2% in the third quarter. State Street Corp now owns 730,973 shares of the company’s stock worth $32,865,000 after purchasing an additional 15,554 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Harrow by 195.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock worth $11,313,000 after purchasing an additional 166,602 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Harrow during the 3rd quarter worth about $1,469,000. Institutional investors own 72.76% of the company’s stock.

Harrow Trading Down 6.0 %

The company has a market capitalization of $933.47 million, a price-to-earnings ratio of -27.88 and a beta of 0.69. 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 business’s 50-day simple moving average is $28.90 and its 200-day simple moving average is $37.99.

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.