Insider Selling: Harrow (NASDAQ:HROW) Insider Sells $450,000.00 in Stock

Harrow, Inc. (NASDAQ:HROW) insider Amir Shojaei sold 11,250 shares of the company’s 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 $450,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Harrow Trading Up 5.4%

HROW stock opened at $41.64 on Thursday. The firm has a fifty day moving average price of $41.31 and a 200 day moving average price of $39.81. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The company has a debt-to-equity ratio of 19.70, a quick ratio of 2.08 and a current ratio of 2.24. The firm has a market cap of $1.56 billion, a PE ratio of -41.64 and a beta of 0.28.

Harrow (NASDAQ:HROW) last announced its quarterly 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). 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.

Institutional Trading of Harrow

Several institutional investors have recently added to or reduced their stakes in HROW. University of Texas Texas AM Investment Management Co. bought a new position in shares of Harrow during the fourth quarter valued at approximately $26,000. KBC Group NV purchased a new position in Harrow during the 1st quarter valued at $31,000. Raymond James Financial Inc. purchased a new position in Harrow during the 2nd quarter valued at $48,000. SBI Securities Co. Ltd. grew its position in Harrow by 393.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock valued at $52,000 after acquiring an additional 846 shares during the last quarter. Finally, First Bancorp Inc ME bought a new position in Harrow in the 2nd quarter valued at $64,000. Institutional investors own 72.76% of the company’s stock.

Wall Street Analyst Weigh In

HROW has been the subject of a number of analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $63.00 price target on shares of Harrow in a report on Tuesday, August 11th. Zacks Research downgraded Harrow from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald lowered their price objective on Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a report on Monday, July 20th. Finally, Wall Street Zen raised Harrow from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company 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.