Squarepoint Ops LLC Sells 73,294 Shares of Harrow, Inc. $HROW

Squarepoint Ops LLC cut its stake in Harrow, Inc. (NASDAQ:HROW) by 77.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,956 shares of the company’s stock after selling 73,294 shares during the period. Squarepoint Ops LLC’s holdings in Harrow were worth $640,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of HROW. Divisadero Street Capital Management LP acquired a new position in Harrow during the second quarter worth $4,293,000. Advocate Group LLC acquired a new stake in shares of Harrow in the 2nd quarter valued at $269,000. Geode Capital Management LLC grew its holdings in shares of Harrow by 4.7% in the 2nd quarter. Geode Capital Management LLC now owns 810,803 shares of the company’s stock worth $24,765,000 after purchasing an additional 36,724 shares during the last quarter. Equitable Trust Co. grew its holdings in shares of Harrow by 15.7% in the 2nd quarter. Equitable Trust Co. now owns 55,035 shares of the company’s stock worth $1,681,000 after purchasing an additional 7,465 shares during the last quarter. Finally, Westside Investment Management Inc. increased its position in shares of Harrow by 4.1% during the 2nd quarter. Westside Investment Management Inc. now owns 181,056 shares of the company’s stock worth $5,529,000 after purchasing an additional 7,200 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Price Performance

Shares of HROW stock opened at $49.15 on Wednesday. Harrow, Inc. has a 1 year low of $20.85 and a 1 year high of $51.30. The company has a current ratio of 2.72, a quick ratio of 2.52 and a debt-to-equity ratio of 5.21. The firm’s 50 day moving average is $41.13 and its 200-day moving average is $38.43. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -491.45 and a beta of 0.07.

Harrow (NASDAQ:HROW) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. Harrow had a negative net margin of 1.99% and a positive return on equity of 28.71%. The firm had revenue of $71.64 million during the quarter, compared to analysts’ expectations of $73.70 million. Sell-side analysts forecast that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HROW has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $94.00 price target on shares of Harrow in a research report on Tuesday, November 11th. B. Riley reiterated a “buy” rating and issued a $74.00 target price (up previously from $70.00) on shares of Harrow in a research note on Wednesday, October 1st. Lake Street Capital boosted their target price on Harrow from $42.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH lifted their price objective on Harrow from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.43.

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.