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

Harrow, Inc. (NASDAQ:HROW)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $51.80, but opened at $41.75. Harrow shares last traded at $42.99, with a volume of 650,606 shares traded.

Analyst Ratings Changes

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

Harrow Stock Performance

The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -45.25 and a beta of 0.76. The stock’s 50 day moving average is $47.84 and its 200 day moving average is $32.00. The company has a current ratio of 2.60, a quick ratio of 2.43 and a debt-to-equity ratio of 3.18.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in Harrow in the 3rd quarter valued at about $29,000. nVerses Capital LLC purchased a new position in Harrow in the 2nd quarter valued at about $33,000. Allspring Global Investments Holdings LLC lifted its holdings in Harrow by 2,730.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock valued at $44,000 after purchasing an additional 2,048 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Harrow by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,283 shares of the company’s stock valued at $57,000 after purchasing an additional 227 shares in the last quarter. Finally, Hills Bank & Trust Co purchased a new position in Harrow in the 3rd quarter valued at about $107,000. 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.