Harrow (NASDAQ:HROW) Shares Gap Up – Here’s Why

Harrow, Inc. (NASDAQ:HROW)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $23.32, but opened at $28.93. Harrow shares last traded at $28.87, with a volume of 570,497 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HROW. HC Wainwright began coverage on Harrow in a report on Thursday, February 6th. They set a “buy” rating and a $57.00 price target for the company. B. Riley cut their price target on Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 4th.

Harrow Stock Up 20.0 %

The company has a 50-day moving average price of $30.19 and a 200 day moving average price of $38.73. The firm has a market capitalization of $996.51 million, a PE ratio of -29.78 and a beta of 0.69. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.55 and a quick ratio of 1.44.

Institutional Investors Weigh In On Harrow

A number of hedge funds have recently made changes to their positions in HROW. GF Fund Management CO. LTD. purchased a new stake in shares of Harrow in the fourth quarter worth about $25,000. Quest Partners LLC purchased a new stake in shares of Harrow in the third quarter worth about $29,000. Tower Research Capital LLC TRC lifted its position in shares of Harrow by 769.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company’s stock worth $55,000 after buying an additional 1,462 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Harrow in the fourth quarter worth about $78,000. Finally, AlphaQuest LLC lifted its position in shares of Harrow by 452.8% in the fourth quarter. AlphaQuest LLC now owns 3,527 shares of the company’s stock worth $118,000 after buying an additional 2,889 shares in the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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.