Harrow, Inc. (NASDAQ:HROW) Short Interest Up 8.9% in June

Harrow, Inc. (NASDAQ:HROW) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 4,660,000 shares, a growth of 8.9% from the May 31st total of 4,280,000 shares. Based on an average trading volume of 509,600 shares, the days-to-cover ratio is currently 9.1 days.

Harrow Stock Performance

Harrow stock opened at $21.05 on Tuesday. The business has a fifty day moving average of $16.00 and a two-hundred day moving average of $12.74. The company has a debt-to-equity ratio of 3.06, a quick ratio of 2.75 and a current ratio of 3.00. Harrow has a twelve month low of $7.60 and a twelve month high of $22.63.

Harrow (NASDAQ:HROW) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The business had revenue of $34.59 million for the quarter, compared to analyst estimates of $34.37 million. Harrow had a negative return on equity of 39.82% and a negative net margin of 22.59%. On average, research analysts predict that Harrow will post -0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HROW. Craig Hallum boosted their target price on Harrow from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, June 21st. B. Riley reiterated a “buy” rating and issued a $29.00 price target (up previously from $26.00) on shares of Harrow in a report on Wednesday, May 15th. Finally, Lake Street Capital upped their target price on Harrow from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, June 3rd.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. acquired 11,715 shares of Harrow stock in a transaction on Tuesday, April 23rd. The shares were bought at an average cost of $10.29 per share, with a total value of $120,547.35. Following the completion of the purchase, the insider now directly owns 3,786,715 shares of the company’s stock, valued at approximately $38,965,297.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 61,115 shares of company stock valued at $630,411 over the last ninety days. 13.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Harrow

Large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its position in shares of Harrow by 347.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,063 shares of the company’s stock valued at $46,000 after acquiring an additional 3,155 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Harrow by 122.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,073 shares of the company’s stock worth $90,000 after acquiring an additional 4,440 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Harrow during the 1st quarter worth about $185,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Harrow by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,672 shares of the company’s stock worth $221,000 after acquiring an additional 1,033 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Harrow by 12.7% during the 1st quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company’s stock worth $224,000 after acquiring an additional 1,912 shares in the last quarter. 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.