Investors Buy High Volume of Harrow Put Options (NASDAQ:HROW)

Harrow, Inc. (NASDAQ:HROW) was the recipient of unusually large options trading on Thursday. Stock investors bought 10,279 put options on the stock. This represents an increase of 955% compared to the typical volume of 974 put options.

Harrow Trading Up 1.2 %

Shares of HROW stock opened at $50.37 on Friday. The company has a current ratio of 2.60, a quick ratio of 2.43 and a debt-to-equity ratio of 3.18. Harrow has a twelve month low of $7.60 and a twelve month high of $51.81. The company’s 50-day moving average price is $38.93 and its 200-day moving average price is $24.31. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -55.35 and a beta of 0.75.

Harrow (NASDAQ:HROW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.12. The business had revenue of $48.94 million during the quarter, compared to analysts’ expectations of $42.78 million. Harrow had a negative net margin of 21.78% and a negative return on equity of 40.59%. As a group, equities analysts predict that Harrow will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Harrow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of Harrow in the 2nd quarter valued at $33,000. Allspring Global Investments Holdings LLC boosted its stake in Harrow by 2,730.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,123 shares of the company’s stock worth $44,000 after buying an additional 2,048 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Harrow by 66.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,745 shares of the company’s stock valued at $89,000 after acquiring an additional 2,682 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Harrow by 5.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,865 shares of the company’s stock valued at $248,000 after acquiring an additional 567 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Harrow in the 3rd quarter worth approximately $534,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on HROW. Craig Hallum increased their target price on shares of Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Friday. Lake Street Capital raised their target price on shares of Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday. Finally, B. Riley restated a “buy” rating and issued a $50.00 price target on shares of Harrow in a research report on Thursday, August 29th.

About Harrow

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.