Grandeur Peak Global Advisors LLC Makes New $610,000 Investment in Harrow, Inc. $HROW

Grandeur Peak Global Advisors LLC bought a new stake in Harrow, Inc. (NASDAQ:HROW) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,353 shares of the company’s stock, valued at approximately $610,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Harrow by 102.5% during the first quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock valued at $261,000 after acquiring an additional 4,967 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Harrow by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock worth $483,000 after purchasing an additional 790 shares in the last quarter. Strs Ohio bought a new stake in Harrow in the first quarter valued at about $149,000. Legal & General Group Plc raised its stake in Harrow by 12.4% during the second quarter. Legal & General Group Plc now owns 30,753 shares of the company’s stock valued at $939,000 after buying an additional 3,384 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Harrow by 9.3% during the second quarter. Rhumbline Advisers now owns 46,969 shares of the company’s stock valued at $1,434,000 after buying an additional 3,994 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Price Performance

Shares of NASDAQ HROW opened at $38.54 on Friday. The company has a debt-to-equity ratio of 19.70, a current ratio of 2.24 and a quick ratio of 2.08. The firm has a market capitalization of $1.44 billion, a PE ratio of -38.54 and a beta of 0.28. Harrow, Inc. has a 1-year low of $28.54 and a 1-year high of $54.85. The business’s fifty day moving average price is $41.40 and its two-hundred day moving average price is $39.59.

Harrow (NASDAQ:HROW) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.28). Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.The firm had revenue of $70.66 million for the quarter, compared to the consensus estimate of $70.35 million.

Analyst Upgrades and Downgrades

HROW has been the subject of a number of research analyst reports. Zacks Research downgraded Harrow from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Cantor Fitzgerald lowered their target price on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. BTIG Research restated a “buy” rating and issued a $63.00 price target on shares of Harrow in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Harrow has an average rating of “Moderate Buy” and an average target price of $69.43.

Insider Buying and Selling

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.00, for a total value of $450,000.00. Following the completion of the transaction, the insider owned 11,250 shares in the company, valued at approximately $450,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.80% of the company’s stock.

Harrow Company Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.