Harrow Health, Inc. (NASDAQ:HROW) Sees Significant Increase in Short Interest

Harrow Health, Inc. (NASDAQ:HROW) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 6,120,000 shares, an increase 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 currently 14.3 days.

Harrow Health Stock Down 0.4 %

Shares of NASDAQ:HROW opened at $12.30 on Wednesday. The stock has a market cap of $434.96 million, a P/E ratio of -16.40 and a beta of 0.48. The firm has a fifty day moving average price of $11.53 and a 200 day moving average price of $11.39. The company has a debt-to-equity ratio of 2.60, a current ratio of 2.83 and a quick ratio of 2.61. Harrow Health has a 1-year low of $7.60 and a 1-year high of $28.25.

Harrow Health (NASDAQ:HROW) last announced its earnings results on Tuesday, March 19th. The company reported ($0.27) EPS for the quarter. Harrow Health had a negative net margin of 18.75% and a negative return on equity of 29.48%. The business had revenue of $36.36 million during the quarter, compared to analysts’ expectations of $37.65 million. Sell-side analysts predict that Harrow Health will post -0.39 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Harrow Health

A number of hedge funds have recently added to or reduced their stakes in HROW. Allspring Global Investments Holdings LLC purchased a new stake in shares of Harrow Health in the third quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Harrow Health in the 4th quarter valued at approximately $31,000. Tower Research Capital LLC TRC increased its position in Harrow Health by 530.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,756 shares of the company’s stock worth $33,000 after purchasing an additional 2,319 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Harrow Health during the 3rd quarter worth approximately $34,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Harrow Health in the 2nd quarter valued at approximately $41,000. 72.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. B. Riley decreased their price objective on shares of Harrow Health from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Craig Hallum began coverage on Harrow Health in a report on Thursday, April 11th. They issued a “buy” rating and a $24.00 target price for the company.

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.