Grandeur Peak Global Advisors LLC Invests $610,000 in Harrow, Inc. $HROW

Grandeur Peak Global Advisors LLC purchased a new stake in shares of Harrow, Inc. (NASDAQ:HROW) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 14,353 shares of the company’s stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HROW. University of Texas Texas AM Investment Management Co. bought a new position in Harrow in the 4th quarter valued at about $26,000. KBC Group NV bought a new stake in shares of Harrow during the 1st quarter worth about $31,000. Raymond James Financial Inc. bought a new stake in shares of Harrow during the 2nd quarter worth about $48,000. SBI Securities Co. Ltd. lifted its stake in shares of Harrow by 393.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock worth $52,000 after acquiring an additional 846 shares during the period. Finally, First Bancorp Inc ME acquired a new stake in shares of Harrow in the 2nd quarter worth approximately $64,000. 72.76% of the stock is currently owned by institutional investors.

Harrow Trading Down 2.0%

Harrow stock opened at $38.54 on Friday. 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 $1.44 billion, a price-to-earnings ratio of -38.54 and a beta of 0.28. The firm’s 50 day moving average price is $41.40 and its two-hundred day moving average price is $39.59. Harrow, Inc. has a 1 year low of $28.54 and a 1 year high of $54.85.

Harrow (NASDAQ:HROW) last issued its earnings results on Monday, August 10th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.28). The business had revenue of $70.66 million during the quarter, compared to analyst estimates of $70.35 million. Harrow had a negative return on equity of 38.00% and a negative net margin of 13.51%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald decreased their price objective on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. BTIG Research restated a “buy” rating and issued a $63.00 target price on shares of Harrow in a research report on Tuesday, August 11th. Zacks Research lowered Harrow from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research report on Monday, July 20th. Finally, Wall Street Zen raised Harrow from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Harrow has an average rating of “Moderate Buy” and a consensus price target of $69.43.

Insider Buying and Selling

In other Harrow news, insider Amir Shojaei sold 11,250 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider directly owned 11,250 shares in the company, valued at approximately $450,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 12.80% of the company’s stock.

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.