Harrow (NASDAQ:HROW) Shares Gap Up Following Better-Than-Expected Earnings

Harrow, Inc. (NASDAQ:HROW) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $27.87, but opened at $30.18. Harrow shares last traded at $28.19, with a volume of 513,909 shares.

The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.11 by $0.14. Harrow had a negative return on equity of 45.57% and a negative net margin of 19.75%. The business had revenue of $66.83 million during the quarter, compared to analysts’ expectations of $66.01 million.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HROW shares. B. Riley dropped their target price on shares of Harrow from $73.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. HC Wainwright reiterated a “buy” rating and set a $57.00 price objective on shares of Harrow in a report on Tuesday, March 18th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HROW. Braidwell LP increased its position in shares of Harrow by 106.3% during the fourth quarter. Braidwell LP now owns 907,039 shares of the company’s stock worth $30,431,000 after acquiring an additional 467,401 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Harrow by 443.1% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Harrow by 195.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock worth $11,313,000 after purchasing an additional 166,602 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Harrow by 483.2% in the fourth quarter. Two Sigma Investments LP now owns 150,355 shares of the company’s stock valued at $5,044,000 after purchasing an additional 124,574 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Harrow by 128.0% in the fourth quarter. Neuberger Berman Group LLC now owns 200,529 shares of the company’s stock valued at $6,728,000 after purchasing an additional 112,588 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Stock Performance

The company has a market cap of $933.47 million, a PE ratio of -27.88 and a beta of 0.69. The company has a 50-day moving average of $28.90 and a 200-day moving average of $38.01. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 3.23.

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.