Harrow, Inc. (NASDAQ:HROW) Short Interest Update

Harrow, Inc. (NASDAQ:HROW) was the target of a large increase in short interest in 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 trading volume, of 427,600 shares, the days-to-cover ratio is currently 14.3 days.

Wall Street Analyst Weigh In

HROW has been the topic of several recent research reports. Craig Hallum started coverage on Harrow in a research report on Thursday, April 11th. They issued a “buy” rating and a $24.00 price target on the stock. B. Riley dropped their price objective on Harrow from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd.

Insider Activity at Harrow

In other news, CEO Mark L. Baum acquired 9,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was bought at an average price of $11.59 per share, with a total value of $104,310.00. Following the completion of the acquisition, the chief executive officer now owns 2,137,525 shares in the company, valued at approximately $24,773,914.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Mark L. Baum bought 9,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was bought at an average cost of $11.59 per share, with a total value of $104,310.00. Following the purchase, the chief executive officer now owns 2,137,525 shares of the company’s stock, valued at $24,773,914.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Opaleye Management Inc. acquired 50,600 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was purchased at an average price of $9.65 per share, with a total value of $488,290.00. Following the completion of the transaction, the insider now owns 3,695,600 shares of the company’s stock, valued at $35,662,540. The disclosure for this purchase can be found here. Insiders have purchased a total of 170,715 shares of company stock valued at $1,864,011 in the last 90 days. 13.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Harrow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in Harrow during the third quarter worth about $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Harrow in the third quarter valued at $34,000. China Universal Asset Management Co. Ltd. increased its holdings in Harrow by 347.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,063 shares of the company’s stock worth $46,000 after buying an additional 3,155 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Harrow by 122.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,073 shares of the company’s stock worth $90,000 after acquiring an additional 4,440 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Harrow by 12.7% in the first quarter. BNP Paribas Financial Markets now owns 16,941 shares of the company’s stock valued at $224,000 after acquiring an additional 1,912 shares during the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Harrow Stock Up 3.1 %

NASDAQ HROW traded up $0.32 on Tuesday, reaching $10.81. The company had a trading volume of 109,519 shares, compared to its average volume of 430,917. The company’s fifty day moving average is $11.45 and its 200-day moving average is $10.97. The firm has a market capitalization of $382.46 million, a price-to-earnings ratio of -14.41 and a beta of 0.58. The company has a debt-to-equity ratio of 2.60, a quick ratio of 2.61 and a current ratio of 2.83. Harrow has a 1-year low of $7.60 and a 1-year high of $28.25.

Harrow (NASDAQ:HROW) last announced its earnings results on Tuesday, March 19th. The company reported ($0.27) earnings per share (EPS) for the quarter. The firm had revenue of $36.36 million during the quarter, compared to analyst estimates of $37.65 million. Harrow had a negative net margin of 18.75% and a negative return on equity of 29.48%. On average, research analysts forecast that Harrow will post -0.39 earnings per share for the current fiscal year.

Harrow Company Profile

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.