Harrow, Inc. (NASDAQ:HROW) Short Interest Down 14.5% in October

Harrow, Inc. (NASDAQ:HROW) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 3,490,000 shares, a decline of 14.5% from the September 30th total of 4,080,000 shares. Based on an average trading volume of 588,600 shares, the short-interest ratio is presently 5.9 days.

Institutional Investors Weigh In On Harrow

Several large investors have recently made changes to their positions in HROW. nVerses Capital LLC bought a new position in Harrow in the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC increased its holdings in Harrow by 2,730.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock worth $44,000 after buying an additional 2,048 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Harrow by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,283 shares of the company’s stock worth $57,000 after acquiring an additional 227 shares in the last quarter. Hills Bank & Trust Co acquired a new stake in Harrow in the third quarter valued at $107,000. Finally, Bayesian Capital Management LP bought a new position in shares of Harrow in the 1st quarter valued at about $185,000. Institutional investors own 72.76% of the company’s stock.

Analysts Set New Price Targets

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

Harrow Trading Up 1.4 %

HROW stock traded up $0.64 during midday trading on Thursday, hitting $45.06. 416,822 shares of the company’s stock were exchanged, compared to its average volume of 497,635. Harrow has a one year low of $7.60 and a one year high of $59.23. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.43 and a current ratio of 2.60. The company has a market cap of $1.60 billion, a PE ratio of -46.71 and a beta of 0.75. The stock’s fifty day moving average price is $46.31 and its 200-day moving average price is $29.36.

Harrow (NASDAQ:HROW) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.12. Harrow had a negative return on equity of 40.59% and a negative net margin of 21.78%. The business had revenue of $48.94 million for the quarter, compared to analysts’ expectations of $42.78 million. Research analysts predict that Harrow will post 0.09 earnings per share for the current fiscal year.

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.