Harrow (NASDAQ:HROW) Insider Amir Shojaei Sells 11,250 Shares

Harrow, Inc. (NASDAQ:HROW) insider Amir Shojaei sold 11,250 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 11,250 shares of the company’s stock, valued at approximately $450,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Harrow Trading Down 1.4%

HROW stock traded down $0.56 during mid-day trading on Monday, reaching $39.47. 323,068 shares of the stock traded hands, compared to its average volume of 730,674. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24. Harrow, Inc. has a one year low of $28.54 and a one year high of $54.85. The stock has a market capitalization of $1.48 billion, a PE ratio of -39.47 and a beta of 0.28. The business has a 50-day moving average price of $40.94 and a two-hundred day moving average price of $39.86.

Harrow (NASDAQ:HROW) last announced its earnings results 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 firm had revenue of $70.66 million during the quarter, compared to analysts’ expectations of $70.35 million. Harrow had a negative net margin of 13.51% and a negative return on equity of 38.00%. Equities research analysts expect that Harrow, Inc. will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC grew its position in shares of Harrow by 20.5% during the 4th quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company’s stock worth $19,257,000 after buying an additional 66,589 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Harrow by 807.4% in the fourth quarter. State of Alaska Department of Revenue now owns 15,807 shares of the company’s stock valued at $774,000 after acquiring an additional 14,065 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of Harrow by 8.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 361,998 shares of the company’s stock valued at $17,738,000 after acquiring an additional 28,303 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Harrow by 56.4% in the first quarter. Dimensional Fund Advisors LP now owns 579,520 shares of the company’s stock worth $20,428,000 after acquiring an additional 208,972 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Harrow by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock worth $94,162,000 after acquiring an additional 50,889 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.