Harrow (NASDAQ:HROW) Hits New 52-Week High – Here’s Why

Shares of Harrow, Inc. (NASDAQ:HROW) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $52.00 and last traded at $51.31, with a volume of 190426 shares trading hands. The stock had previously closed at $51.00.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HROW. Lake Street Capital upped their price target on Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Craig Hallum raised their price target on shares of Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, B. Riley reiterated a “buy” rating and issued a $50.00 price objective on shares of Harrow in a report on Thursday, August 29th.

Harrow Stock Performance

The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.43 and a current ratio of 2.60. The company has a market capitalization of $1.82 billion, a PE ratio of -56.04 and a beta of 0.75. The company has a 50 day moving average price of $40.00 and a 200 day moving average price of $25.06.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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%. Equities analysts forecast that Harrow, Inc. will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HROW. nVerses Capital LLC acquired a new stake in shares of Harrow during the 2nd quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC lifted its position in shares of Harrow by 2,730.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock worth $44,000 after buying an additional 2,048 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 buying an additional 2,682 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Harrow during the 1st quarter valued at about $185,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Harrow by 6.6% during the first 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 during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.

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.