Rhumbline Advisers Buys 2,879 Shares of Harrow, Inc. (NASDAQ:HROW)

Rhumbline Advisers lifted its stake in Harrow, Inc. (NASDAQ:HROW) by 7.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,975 shares of the company’s stock after purchasing an additional 2,879 shares during the quarter. Rhumbline Advisers owned about 0.12% of Harrow worth $1,143,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HROW. GF Fund Management CO. LTD. purchased a new position in shares of Harrow during the fourth quarter worth $25,000. Tower Research Capital LLC TRC boosted its position in Harrow by 769.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,652 shares of the company’s stock worth $55,000 after acquiring an additional 1,462 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Harrow during the fourth quarter worth approximately $78,000. AlphaQuest LLC raised its stake in Harrow by 452.8% during the fourth quarter. AlphaQuest LLC now owns 3,527 shares of the company’s stock worth $118,000 after purchasing an additional 2,889 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in Harrow in the fourth quarter valued at $214,000. 72.76% of the stock is owned by institutional investors and hedge funds.

Harrow Stock Performance

Shares of HROW opened at $31.52 on Friday. The company’s 50 day simple moving average is $26.75 and its 200 day simple moving average is $29.38. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.85 and a current ratio of 0.91. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -56.28 and a beta of 0.40. Harrow, Inc. has a 1 year low of $19.31 and a 1 year high of $59.23.

Harrow (NASDAQ:HROW) last issued its earnings results on Thursday, May 8th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.40). Harrow had a negative return on equity of 25.01% and a negative net margin of 10.19%. The firm had revenue of $47.83 million during the quarter, compared to analysts’ expectations of $57.00 million. On average, sell-side analysts predict that Harrow, Inc. will post -0.53 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HC Wainwright lifted their price objective on shares of Harrow from $57.00 to $60.00 and gave the company a “buy” rating in a report on Monday, May 12th. William Blair assumed coverage on Harrow in a research note on Tuesday, June 10th. They set an “outperform” rating for the company. B. Riley cut their target price on Harrow from $69.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Finally, BTIG Research began coverage on Harrow in a report on Thursday, June 12th. They issued a “buy” rating and a $62.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $61.40.

Harrow Company Profile

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.