Harrow (NASDAQ:HROW) Trading Down 8.8% – Should You Sell?

Harrow, Inc. (NASDAQ:HROW)’s share price fell 8.8% on Monday . The company traded as low as $22.27 and last traded at $22.23. 152,856 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 331,406 shares. The stock had previously closed at $24.38.

Wall Street Analyst Weigh In

HROW has been the subject of a number of analyst reports. HC Wainwright began coverage on shares of Harrow in a report on Thursday, February 6th. They issued a “buy” rating and a $57.00 price target for the company. B. Riley decreased their price objective on Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th.

Harrow Trading Down 8.9 %

The company’s 50 day moving average price is $31.65 and its two-hundred day moving average price is $39.53. The firm has a market cap of $791.37 million, a PE ratio of -23.64 and a beta of 0.69. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 3.23.

Institutional Trading of Harrow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of Harrow during the third quarter valued at approximately $29,000. GF Fund Management CO. LTD. purchased a new position in Harrow during the 4th quarter valued at $25,000. Tower Research Capital LLC TRC grew its position in Harrow by 769.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company’s stock valued at $55,000 after acquiring an additional 1,462 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Harrow in the fourth quarter worth $78,000. Finally, AlphaQuest LLC increased its stake in Harrow by 452.8% in the fourth quarter. AlphaQuest LLC now owns 3,527 shares of the company’s stock worth $118,000 after purchasing an additional 2,889 shares during the period. 72.76% of the stock is owned by hedge funds and other 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.