ValuEngine Downgrades Harrow Health (NASDAQ:HROW) to Hold

ValuEngine cut shares of Harrow Health (NASDAQ:HROW) from a buy rating to a hold rating in a research note published on Thursday morning, ValuEngine reports.

HROW has been the subject of several other research reports. TheStreet upgraded Harrow Health from a d- rating to a c rating in a research report on Wednesday, May 1st. Zacks Investment Research lowered Harrow Health from a buy rating to a hold rating in a research report on Wednesday, May 15th.

Shares of Harrow Health stock traded down $0.25 during trading on Thursday, reaching $7.12. 7,687 shares of the stock traded hands, compared to its average volume of 253,828. The firm has a market cap of $182.04 million, a P/E ratio of 11.75 and a beta of 0.06. The firm’s fifty day moving average price is $7.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.43 and a quick ratio of 3.22. Harrow Health has a 52-week low of $2.22 and a 52-week high of $8.99.

Harrow Health (NASDAQ:HROW) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.14). The firm had revenue of $12.29 million for the quarter, compared to analysts’ expectations of $12.10 million. Harrow Health had a net margin of 65.84% and a return on equity of 100.84%. On average, sell-side analysts predict that Harrow Health will post -0.1 EPS for the current year.

In related news, Director Robert J. Kammer sold 6,500 shares of Harrow Health stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $7.91, for a total value of $51,415.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert J. Kammer sold 10,000 shares of Harrow Health stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $5.78, for a total value of $57,800.00. The disclosure for this sale can be found here. Company insiders own 12.43% of the company’s stock.

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of Harrow Health during the first quarter valued at approximately $1,983,000. Granite Investment Partners LLC bought a new stake in shares of Harrow Health during the first quarter valued at approximately $1,254,000. Marshall Wace LLP bought a new stake in shares of Harrow Health during the first quarter valued at approximately $1,104,000. Birchview Capital LP bought a new position in Harrow Health in the first quarter worth approximately $896,000. Finally, Wedge Capital Management L L P NC bought a new position in Harrow Health in the second quarter worth approximately $1,330,000. Institutional investors and hedge funds own 32.39% of the company’s stock.

About Harrow Health

Harrow Health, Inc owns a portfolio of healthcare businesses, primarily ophthalmology pharmaceutical compounding business, ImprimisRx, in the United States. It develops, produces, and sells medications, including ophthalmology focused compounding formulations; and sterile and non-sterile compounded medications to physicians and patients.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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