Harrow Health, Inc. (NASDAQ:HROW) Short Interest Update

Harrow Health, Inc. (NASDAQ:HROW) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 6,120,000 shares, a growth of 11.3% from the March 15th total of 5,500,000 shares. Based on an average daily trading volume, of 427,600 shares, the days-to-cover ratio is presently 14.3 days.

Harrow Health Trading Down 2.8 %

Shares of HROW stock opened at $12.00 on Tuesday. The company has a quick ratio of 2.61, a current ratio of 2.83 and a debt-to-equity ratio of 2.60. Harrow Health has a 1-year low of $7.60 and a 1-year high of $28.25. The business’s fifty day moving average price is $11.53 and its 200 day moving average price is $11.39.

Harrow Health (NASDAQ:HROW) last posted its earnings results on Tuesday, March 19th. The company reported ($0.27) earnings per share for the quarter. The firm had revenue of $36.36 million during the quarter, compared to analyst estimates of $37.65 million. Harrow Health had a negative net margin of 18.75% and a negative return on equity of 29.48%. On average, sell-side analysts anticipate that Harrow Health will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. B. Riley dropped their target price on Harrow Health from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Craig Hallum assumed coverage on Harrow Health in a report on Thursday, April 11th. They issued a “buy” rating and a $24.00 target price on the stock.

Insider Activity

In related news, CEO Mark L. Baum acquired 9,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was acquired at an average price of $11.59 per share, for a total transaction of $104,310.00. Following the purchase, the chief executive officer now owns 2,137,525 shares of the company’s stock, valued at approximately $24,773,914.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Opaleye Management Inc. purchased 50,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were bought at an average price of $12.82 per share, with a total value of $641,000.00. Following the completion of the transaction, the insider now directly owns 3,745,600 shares in the company, valued at approximately $48,018,592. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark L. Baum purchased 9,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were purchased at an average cost of $11.59 per share, for a total transaction of $104,310.00. Following the transaction, the chief executive officer now owns 2,137,525 shares of the company’s stock, valued at $24,773,914.75. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 109,600 shares of company stock worth $1,233,600. 13.60% of the stock is currently owned by company insiders.

Institutional Trading of Harrow Health

Large investors have recently bought and sold shares of the company. Kennedy Capital Management LLC acquired a new stake in Harrow Health in the third quarter valued at $1,750,000. Jump Financial LLC purchased a new stake in shares of Harrow Health in the third quarter valued at $1,038,000. Braidwell LP lifted its position in shares of Harrow Health by 24.5% in the third quarter. Braidwell LP now owns 1,808,684 shares of the company’s stock valued at $25,991,000 after acquiring an additional 356,146 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Harrow Health in the third quarter valued at $4,887,000. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Harrow Health in the third quarter valued at $3,598,000. Institutional investors and hedge funds own 72.76% of the company’s stock.

Harrow Health Company Profile

Harrow Health, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company also holds equity interests in Surface Ophthalmics, Inc, a clinical-stage pharmaceutical company that focuses on the development and commercialization of therapeutics for ocular surface diseases; Melt Pharmaceuticals, Inc, a clinical-stage pharmaceutical company that focused on the development and commercialization of proprietary non-intravenous, sedation, and anesthesia therapeutics for human medical procedures in hospital, outpatient, and in-office settings; and Eton Pharmaceuticals, Inc, a commercial-stage pharmaceutical company that engages in developing and commercializing drug products.