Harrow (NASDAQ:HROW) Trading Down 4.6% – Here’s What Happened

Shares of Harrow, Inc. (NASDAQ:HROW) traded down 4.6% during trading on Wednesday . The company traded as low as $25.17 and last traded at $25.74. 93,816 shares traded hands during trading, a decline of 81% from the average session volume of 501,370 shares. The stock had previously closed at $26.98.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HROW shares. HC Wainwright reaffirmed a “buy” rating and set a $57.00 target price on shares of Harrow in a research report on Tuesday. B. Riley cut their price objective on shares of Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th.

Harrow Stock Up 3.0 %

The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -29.88 and a beta of 0.69. The business has a 50 day moving average of $29.67 and a 200 day moving average of $38.48. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.55 and a quick ratio of 1.44.

Hedge Funds Weigh In On Harrow

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Harrow by 443.1% in the third quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock worth $10,717,000 after purchasing an additional 194,480 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of Harrow in the 3rd quarter valued at approximately $1,986,000. Barclays PLC raised its holdings in shares of Harrow by 301.9% in the 3rd quarter. Barclays PLC now owns 52,593 shares of the company’s stock worth $2,365,000 after buying an additional 39,506 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Harrow by 195.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock worth $11,313,000 after buying an additional 166,602 shares during the period. Finally, State Street Corp lifted its position in shares of Harrow by 2.2% during the 3rd quarter. State Street Corp now owns 730,973 shares of the company’s stock worth $32,865,000 after buying an additional 15,554 shares during the period. 72.76% of the stock is owned by institutional investors.

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.