Harrow Sees Unusually High Options Volume (NASDAQ:HROW)

Harrow, Inc. (NASDAQ:HROW) was the target of unusually large options trading on Thursday. Investors acquired 10,279 put options on the stock. This is an increase of 955% compared to the typical volume of 974 put options.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HROW. nVerses Capital LLC purchased a new position in shares of Harrow during the 2nd quarter worth $33,000. Allspring Global Investments Holdings LLC raised its stake in Harrow by 2,730.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock worth $44,000 after purchasing an additional 2,048 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Harrow by 66.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,745 shares of the company’s stock valued at $89,000 after purchasing an additional 2,682 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Harrow in the 1st quarter valued at approximately $185,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Harrow by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,672 shares of the company’s stock valued at $221,000 after buying an additional 1,033 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.

Harrow Price Performance

HROW stock traded up $3.60 during midday trading on Thursday, reaching $49.48. The stock had a trading volume of 448,551 shares, compared to its average volume of 487,038. Harrow has a 52-week low of $7.60 and a 52-week high of $49.63. The company has a current ratio of 2.60, a quick ratio of 2.43 and a debt-to-equity ratio of 3.18. The company’s fifty day simple moving average is $37.91 and its 200 day simple moving average is $23.85. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -53.27 and a beta of 0.75.

Harrow (NASDAQ:HROW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.12. The firm had revenue of $48.94 million for the quarter, compared to the consensus estimate of $42.78 million. Harrow had a negative net margin of 21.78% and a negative return on equity of 40.59%. As a group, sell-side analysts predict that Harrow will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HROW shares. Craig Hallum increased their price objective on shares of Harrow from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 9th. B. Riley restated a “buy” rating and set a $50.00 price target on shares of Harrow in a research report on Thursday, August 29th.

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.