Short Interest in Harrow Health, Inc. (NASDAQ:HROW) Increases By 11.3%

Harrow Health, Inc. (NASDAQ:HROW) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 6,120,000 shares, an increase of 11.3% from the March 15th total of 5,500,000 shares. Based on an average daily volume of 427,600 shares, the short-interest ratio is currently 14.3 days.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. B. Riley decreased their target price on Harrow Health from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Craig Hallum started coverage on Harrow Health in a report on Thursday, April 11th. They set a “buy” rating and a $24.00 price target on the stock.

Harrow Health Trading Down 2.8 %

Shares of HROW stock opened at $12.00 on Tuesday. Harrow Health has a 1-year low of $7.60 and a 1-year high of $28.25. The company has a current ratio of 2.83, a quick ratio of 2.61 and a debt-to-equity ratio of 2.60. The stock’s fifty day simple moving average is $11.53 and its 200-day simple moving average is $11.39.

Harrow Health (NASDAQ:HROW) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.27) earnings per share for the quarter. The business had revenue of $36.36 million for the quarter, compared to analysts’ expectations of $37.65 million. Harrow Health had a negative net margin of 18.75% and a negative return on equity of 29.48%. On average, sell-side analysts expect that Harrow Health will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Harrow Health news, CEO Mark L. Baum bought 9,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were purchased at an average price of $11.59 per share, with a total value of $104,310.00. Following the purchase, the chief executive officer now directly owns 2,137,525 shares of the company’s stock, valued at $24,773,914.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Opaleye Management Inc. purchased 50,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were bought at an average cost of $12.82 per share, for a total transaction of $641,000.00. Following the transaction, the insider now owns 3,745,600 shares in the company, valued at $48,018,592. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark L. Baum purchased 9,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were purchased at an average price of $11.59 per share, for a total transaction of $104,310.00. Following the completion of the transaction, the chief executive officer now owns 2,137,525 shares in the company, valued at approximately $24,773,914.75. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 109,600 shares of company stock valued at $1,233,600. Insiders own 13.60% of the company’s stock.

Institutional Trading of Harrow Health

A number of institutional investors have recently bought and sold shares of HROW. Allspring Global Investments Holdings LLC acquired a new stake in shares of Harrow Health in the third quarter worth about $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Harrow Health in the fourth quarter worth about $31,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Harrow Health in the second quarter worth about $41,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Harrow Health during the 3rd quarter worth about $34,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Harrow Health by 530.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,756 shares of the company’s stock worth $33,000 after purchasing an additional 2,319 shares during the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

About Harrow Health

Harrow Health, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company also holds equity interests in Surface Ophthalmics, Inc, a clinical-stage pharmaceutical company that focuses on the development and commercialization of therapeutics for ocular surface diseases; Melt Pharmaceuticals, Inc, a clinical-stage pharmaceutical company that focused on the development and commercialization of proprietary non-intravenous, sedation, and anesthesia therapeutics for human medical procedures in hospital, outpatient, and in-office settings; and Eton Pharmaceuticals, Inc, a commercial-stage pharmaceutical company that engages in developing and commercializing drug products.