Rhumbline Advisers Boosts Stock Position in Harrow, Inc. (NASDAQ:HROW)

Rhumbline Advisers raised its stake in Harrow, Inc. (NASDAQ:HROW) by 8.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,021 shares of the company’s stock after purchasing an additional 3,253 shares during the period. Rhumbline Advisers’ holdings in Harrow were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Drive Wealth Management LLC boosted its holdings in Harrow by 63.1% in the second quarter. Drive Wealth Management LLC now owns 29,551 shares of the company’s stock worth $617,000 after acquiring an additional 11,434 shares in the last quarter. nVerses Capital LLC acquired a new stake in Harrow in the second quarter worth about $33,000. Allspring Global Investments Holdings LLC boosted its holdings in Harrow by 2,730.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock worth $44,000 after acquiring an additional 2,048 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Harrow by 16.6% in the second quarter. Bank of New York Mellon Corp now owns 88,210 shares of the company’s stock worth $1,843,000 after acquiring an additional 12,580 shares in the last quarter. Finally, Private Capital Management LLC boosted its holdings in Harrow by 7.8% in the first quarter. Private Capital Management LLC now owns 3,012,393 shares of the company’s stock worth $39,854,000 after acquiring an additional 217,896 shares in the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HROW shares. Lake Street Capital raised their price target on Harrow from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Craig Hallum lifted their target price on Harrow from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, B. Riley reaffirmed a “buy” rating and set a $50.00 target price on shares of Harrow in a report on Thursday, August 29th.

Harrow Trading Down 1.3 %

Harrow stock opened at $44.44 on Tuesday. Harrow, Inc. has a 52 week low of $7.60 and a 52 week high of $47.55. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -48.84 and a beta of 0.75. The stock has a 50-day moving average price of $35.09 and a 200 day moving average price of $22.26. The company has a quick ratio of 2.43, a current ratio of 2.60 and a debt-to-equity ratio of 3.18.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.12. Harrow had a negative return on equity of 40.59% and a negative net margin of 21.78%. The company had revenue of $48.94 million during the quarter, compared to the consensus estimate of $42.78 million. Sell-side analysts anticipate that Harrow, Inc. will post -0.38 EPS for the current year.

Harrow 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.