Harrow (NASDAQ:HROW) Stock Price Down 6.8% – Time to Sell?

Harrow, Inc. (NASDAQ:HROW)’s share price was down 6.8% during trading on Monday. The stock traded as low as $31.64 and last traded at $30.8280. 176,792 shares were traded during trading, a decline of 75% from the average session volume of 699,208 shares. The stock had previously closed at $33.07.

Analyst Ratings Changes

Several research firms have weighed in on HROW. Leerink Partners initiated coverage on Harrow in a report on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 price target on the stock. Zacks Research upgraded Harrow from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 9th. Wall Street Zen raised Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Finally, BTIG Research restated a “buy” rating and issued a $63.00 target price on shares of Harrow in a report on Tuesday, August 11th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Harrow presently has an average rating of “Moderate Buy” and an average price target of $66.71.

Harrow Trading Down 3.9%

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’s 50 day moving average price is $38.25 and its 200 day moving average price is $37.85. The stock has a market capitalization of $1.19 billion, a P/E ratio of -31.75 and a beta of 0.24.

Harrow (NASDAQ:HROW) last posted its earnings results on Monday, August 10th. The company reported ($0.46) earnings per share (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 business had revenue of $70.66 million during the quarter, compared to the consensus estimate of $70.35 million.

Insider Buying and Selling at Harrow

In other news, insider Amir Shojaei sold 11,250 shares of Harrow stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.00, for a total value of $450,000.00. Following the sale, the insider directly owned 11,250 shares in the company, valued at approximately $450,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.80% of the company’s stock.

Institutional Trading of Harrow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HROW. KBC Group NV bought a new stake in Harrow in the first quarter valued at $31,000. First Bancorp Inc ME bought a new position in Harrow in the 2nd quarter worth $64,000. State of Wyoming purchased a new stake in shares of Harrow in the 2nd quarter worth about $72,000. Freestone Grove Partners LP bought a new stake in shares of Harrow during the 2nd quarter valued at about $157,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Harrow during the 2nd quarter valued at about $169,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Company Profile

Harrow, Inc is an ophthalmic pharmaceutical company focused on developing, acquiring, and commercializing products for the treatment of eye conditions and for use in ophthalmic procedures. The company serves ophthalmologists, optometrists, ambulatory surgery centers, and other eye-care providers, primarily in the United States.

Harrow’s portfolio includes VEVYE, a cyclosporine ophthalmic emulsion indicated for the treatment of signs and symptoms of dry eye disease, and IHEEZO, a chloroprocaine hydrochloride ophthalmic gel used to provide topical ocular anesthesia during ophthalmic procedures.