Harrow (NASDAQ:HROW) Stock Price Down 5.8% – Time to Sell?

Harrow, Inc. (NASDAQ:HROW)’s stock price was down 5.8% during mid-day trading on Monday . The company traded as low as $26.46 and last traded at $26.45. Approximately 61,732 shares traded hands during trading, a decline of 81% from the average daily volume of 319,487 shares. The stock had previously closed at $28.08.

Wall Street Analysts Forecast Growth

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

Harrow Stock Down 8.7 %

The company has a market cap of $912.81 million, a PE ratio of -27.27 and a beta of 0.69. The stock has a 50-day moving average of $32.52 and a 200-day moving average of $40.02. 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

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of 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 during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Harrow in the 3rd quarter worth approximately $1,267,000. Penserra Capital Management LLC bought a new position in shares of Harrow in the 3rd quarter worth $1,986,000. Barclays PLC raised its position in shares of Harrow by 301.9% during the 3rd quarter. Barclays PLC now owns 52,593 shares of the company’s stock valued at $2,365,000 after buying an additional 39,506 shares in the last quarter. Finally, First Turn Management LLC purchased a new stake in shares of Harrow during the 3rd quarter valued at $14,683,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.