Equitable Trust Co. Lowers Position in Harrow, Inc. (NASDAQ:HROW)

Equitable Trust Co. trimmed its position in Harrow, Inc. (NASDAQ:HROW) by 30.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,225 shares of the company’s stock after selling 25,275 shares during the period. Equitable Trust Co. owned 0.16% of Harrow worth $2,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Harrow by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,829,805 shares of the company’s stock worth $24,208,000 after buying an additional 21,253 shares during the period. SG Americas Securities LLC purchased a new stake in Harrow in the third quarter worth about $534,000. Semanteon Capital Management LP purchased a new stake in Harrow in the third quarter worth about $686,000. Private Capital Management LLC increased its stake in shares of Harrow by 7.8% during the first quarter. Private Capital Management LLC now owns 3,012,393 shares of the company’s stock valued at $39,854,000 after purchasing an additional 217,896 shares in the last quarter. Finally, Apis Capital Advisors LLC purchased a new position in shares of Harrow during the second quarter valued at approximately $1,660,000. Institutional investors own 72.76% of the company’s stock.

Harrow Price Performance

Shares of NASDAQ HROW opened at $52.51 on Friday. The firm has a market cap of $1.86 billion, a P/E ratio of -55.27 and a beta of 0.76. Harrow, Inc. has a twelve month low of $7.60 and a twelve month high of $59.23. The company has a quick ratio of 2.43, a current ratio of 2.60 and a debt-to-equity ratio of 3.18. The company has a 50 day moving average of $47.16 and a 200 day moving average of $31.14.

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. 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 analysts’ expectations of $42.78 million. As a group, research analysts expect that Harrow, Inc. will post 0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Craig Hallum upped their price target on Harrow from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Lake Street Capital increased their target price on Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, B. Riley reaffirmed a “buy” rating and issued a $50.00 price target on shares of Harrow in a research report on Thursday, August 29th.

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.