Rhumbline Advisers Grows Stake in Harrow, Inc. (NASDAQ:HROW)

Rhumbline Advisers increased its stake in Harrow, Inc. (NASDAQ:HROW) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,021 shares of the company’s stock after acquiring an additional 3,253 shares during the period. Rhumbline Advisers owned approximately 0.12% of Harrow worth $899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in Harrow in the second quarter worth about $33,000. Allspring Global Investments Holdings LLC lifted its stake in Harrow by 2,730.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock worth $44,000 after purchasing an additional 2,048 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Harrow by 66.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,745 shares of the company’s stock worth $89,000 after purchasing an additional 2,682 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Harrow in the first quarter worth about $185,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Harrow by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,672 shares of the company’s stock worth $221,000 after purchasing an additional 1,033 shares during the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Craig Hallum raised their price objective on shares of Harrow from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. B. Riley reissued a “buy” rating and issued a $50.00 price objective on shares of Harrow in a research note on Thursday, August 29th. Finally, Lake Street Capital increased their price objective on Harrow from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd.

Harrow Stock Performance

Shares of Harrow stock opened at $44.44 on Tuesday. The firm has a market cap of $1.57 billion, a P/E ratio of -48.84 and a beta of 0.75. The company has a current ratio of 2.60, a quick ratio of 2.43 and a debt-to-equity ratio of 3.18. Harrow, Inc. has a 12 month low of $7.60 and a 12 month high of $47.55. The stock’s fifty day moving average price is $35.09 and its 200-day moving average price is $22.26.

Harrow (NASDAQ:HROW) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.12. The firm had revenue of $48.94 million for the quarter, compared to analyst estimates of $42.78 million. Harrow had a negative return on equity of 40.59% and a negative net margin of 21.78%. On average, equities research analysts expect that Harrow, Inc. will post -0.38 earnings per share for the current fiscal year.

Harrow Company Profile

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.