Harrow (NASDAQ:HROW) Trading Up 5.1% – Should You Buy?

Harrow, Inc. (NASDAQ:HROW) shot up 5.1% during mid-day trading on Wednesday . The company traded as high as $26.05 and last traded at $26.24. 69,221 shares traded hands during trading, a decline of 86% from the average session volume of 499,486 shares. The stock had previously closed at $24.98.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price target on shares of Harrow in a report on Monday. B. Riley lowered their target price on Harrow from $69.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday.

Harrow Stock Performance

The firm’s 50 day moving average is $28.53 and its 200-day moving average is $37.72. The stock has a market capitalization of $930.09 million, a price-to-earnings ratio of -27.90 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.

Harrow (NASDAQ:HROW) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. Harrow had a negative net margin of 19.75% and a negative return on equity of 45.57%. The business had revenue of $66.83 million during the quarter, compared to the consensus estimate of $66.01 million. Analysts forecast that Harrow, Inc. will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harrow

A number of hedge funds have recently bought and sold shares of HROW. GF Fund Management CO. LTD. purchased a new stake in shares of Harrow in the fourth quarter valued at approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Harrow by 89.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,940 shares of the company’s stock valued at $2,078,000 after acquiring an additional 29,262 shares during the period. Two Sigma Advisers LP increased its holdings in Harrow by 30.4% in the 4th quarter. Two Sigma Advisers LP now owns 38,200 shares of the company’s stock worth $1,282,000 after acquiring an additional 8,900 shares in the last quarter. Two Sigma Investments LP raised its position in Harrow by 483.2% during the fourth quarter. Two Sigma Investments LP now owns 150,355 shares of the company’s stock worth $5,044,000 after acquiring an additional 124,574 shares during the period. Finally, Rafferty Asset Management LLC purchased a new position in Harrow during the fourth quarter valued at $270,000. Hedge funds and other institutional investors 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.