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

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

Hedge Funds Weigh In On Harrow

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of Harrow during the second quarter valued at $33,000. Allspring Global Investments Holdings LLC raised its stake in shares of Harrow by 2,730.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock valued at $44,000 after acquiring an additional 2,048 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Harrow by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,283 shares of the company’s stock valued at $57,000 after acquiring an additional 227 shares during the last quarter. Hills Bank & Trust Co bought a new position in shares of Harrow during the third quarter valued at $107,000. Finally, Bayesian Capital Management LP bought a new position in shares of Harrow during the first quarter valued at $185,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Harrow Trading Down 6.7 %

Shares of HROW stock opened at $47.20 on Tuesday. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.43 and a current ratio of 2.60. Harrow has a fifty-two week low of $7.60 and a fifty-two week high of $59.23. The company has a market cap of $1.67 billion, a PE ratio of -49.44 and a beta of 0.75. The stock’s fifty day moving average price is $45.93 and its two-hundred day moving average price is $28.78.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $48.94 million for the quarter, compared to analyst estimates of $42.78 million. Equities analysts predict that Harrow will post 0.09 EPS 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.