Harrow, Inc. $HROW Shares Bought by FirstWave Capital Management LLC

FirstWave Capital Management LLC lifted its holdings in Harrow, Inc. (NASDAQ:HROW) by 47.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,981 shares of the company’s stock after purchasing an additional 68,058 shares during the quarter. Harrow accounts for approximately 4.0% of FirstWave Capital Management LLC’s holdings, making the stock its 7th largest position. FirstWave Capital Management LLC’s holdings in Harrow were worth $9,003,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Harrow during the fourth quarter valued at about $26,000. KBC Group NV bought a new position in Harrow in the 1st quarter valued at about $31,000. Raymond James Financial Inc. acquired a new position in Harrow during the 2nd quarter valued at about $48,000. SBI Securities Co. Ltd. raised its position in shares of Harrow by 393.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock worth $52,000 after buying an additional 846 shares in the last quarter. Finally, First Bancorp Inc ME bought a new stake in shares of Harrow during the 2nd quarter worth about $64,000. 72.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Amir Shojaei sold 11,250 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider directly owned 11,250 shares of the company’s stock, valued at $450,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reduced their price target 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. Zacks Research cut Harrow from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Wall Street Zen raised Harrow from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Finally, BTIG Research reaffirmed a “buy” rating and set a $63.00 price target on shares of Harrow in a research note on Tuesday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.43.

Harrow Price Performance

Shares of Harrow stock opened at $38.54 on Friday. Harrow, Inc. has a 52 week low of $28.54 and a 52 week high of $54.85. The company has a current ratio of 2.24, a quick ratio of 2.08 and a debt-to-equity ratio of 19.70. The stock has a market cap of $1.44 billion, a PE ratio of -38.54 and a beta of 0.24. The company’s 50-day moving average price is $40.85 and its two-hundred day moving average price is $39.23.

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

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.