Westside Investment Management Inc. Grows Stock Position in Harrow, Inc. $HROW

Westside Investment Management Inc. boosted its stake in Harrow, Inc. (NASDAQ:HROW) by 4.1% in the second quarter, Holdings Channel reports. The fund owned 181,056 shares of the company’s stock after buying an additional 7,200 shares during the quarter. Harrow makes up about 1.0% of Westside Investment Management Inc.’s holdings, making the stock its 22nd biggest holding. Westside Investment Management Inc.’s holdings in Harrow were worth $5,529,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Corrado Advisors LLC purchased a new position in Harrow in the 2nd quarter worth approximately $225,000. Teacher Retirement System of Texas boosted its holdings in Harrow by 4.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,478 shares of the company’s stock worth $259,000 after acquiring an additional 332 shares during the period. Kornitzer Capital Management Inc. KS purchased a new position in Harrow in the 2nd quarter worth approximately $916,000. Bleakley Financial Group LLC purchased a new position in Harrow in the 2nd quarter worth approximately $439,000. Finally, Brookstone Capital Management boosted its holdings in Harrow by 12.3% in the 2nd quarter. Brookstone Capital Management now owns 13,766 shares of the company’s stock worth $420,000 after acquiring an additional 1,512 shares during the period. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HROW. HC Wainwright restated a “buy” rating and issued a $64.00 price target on shares of Harrow in a report on Monday, September 29th. B. Riley reiterated a “buy” rating and set a $74.00 target price (up from $70.00) on shares of Harrow in a research note on Wednesday, October 1st. Cantor Fitzgerald started coverage on Harrow in a research note on Friday, July 11th. They set an “overweight” rating and a $76.00 target price for the company. Zacks Research cut Harrow from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.50.

Harrow Stock Performance

Harrow stock opened at $37.77 on Monday. The stock has a market cap of $1.40 billion, a P/E ratio of -151.08 and a beta of 0.27. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average of $41.10 and a 200-day moving average of $34.28. Harrow, Inc. has a 52 week low of $20.85 and a 52 week high of $54.19.

Harrow (NASDAQ:HROW) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $0.03 earnings per share (EPS) for the quarter. Harrow had a negative return on equity of 2.18% and a negative net margin of 4.49%.The firm had revenue of $22.12 million for the quarter. Harrow has set its Q2 2023 guidance at EPS. On average, analysts expect that Harrow, Inc. will post -0.53 EPS for the current fiscal year.

Harrow Profile

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.