Short Interest in Harrow, Inc. (NASDAQ:HROW) Decreases By 14.5%

Harrow, Inc. (NASDAQ:HROW) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 3,490,000 shares, a decline of 14.5% from the September 30th total of 4,080,000 shares. Based on an average daily trading volume, of 588,600 shares, the days-to-cover ratio is presently 5.9 days.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Lake Street Capital raised their price target on shares of Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 4th. B. Riley restated a “buy” rating and set a $50.00 price target on shares of Harrow in a report on Thursday, August 29th. Finally, Craig Hallum lifted their price objective on Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 4th.

Harrow Stock Up 1.4 %

NASDAQ:HROW traded up $0.64 during trading hours on Thursday, reaching $45.06. The company’s stock had a trading volume of 416,822 shares, compared to its average volume of 497,635. Harrow has a one year low of $7.60 and a one year high of $59.23. The business’s 50-day moving average is $46.31 and its 200-day moving average is $29.36. The company has a debt-to-equity ratio of 3.18, a current ratio of 2.60 and a quick ratio of 2.43. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -46.71 and a beta of 0.75.

Harrow (NASDAQ:HROW) last posted its 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. Harrow had a negative return on equity of 40.59% and a negative net margin of 21.78%. The firm had revenue of $48.94 million during the quarter, compared to analyst estimates of $42.78 million. Equities research analysts predict that Harrow will post 0.09 EPS for the current year.

Institutional Trading of Harrow

Several hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its holdings in shares of Harrow by 28.3% during the first quarter. Wasatch Advisors LP now owns 388,132 shares of the company’s stock worth $5,135,000 after buying an additional 85,600 shares during the last quarter. BNP Paribas Financial Markets grew its position in Harrow by 12.7% in the 1st quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company’s stock worth $224,000 after purchasing an additional 1,912 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Harrow by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,829,805 shares of the company’s stock worth $24,208,000 after purchasing an additional 21,253 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Harrow by 6.6% in the first 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. Finally, Bayesian Capital Management LP acquired a new stake in Harrow during the first quarter worth about $185,000. 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.