Harrow Health Inc. (NASDAQ: HROW) stock fell -1.47% on Monday to $14.73 against a previous-day closing price of $14.95. With 0.45 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.59 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $15.06 whereas the lowest price it dropped to was $14.66. The 52-week range on HROW shows that it touched its highest point at $28.25 and its lowest point at $7.51 during that stretch. It currently has a 1-year price target of $38.80. Beta for the stock currently stands at 0.22.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HROW was down-trending over the past week, with a drop of -11.32%, but this was down by -12.69% over a month. Three-month performance dropped to -21.15% while six-month performance fell -15.15%. The stock gained 60.11% in the past year, while it has lost -0.20% so far this year. A look at the trailing 12-month EPS for HROW yields -0.56 with Next year EPS estimates of 0.82. For the next quarter, that number is 0.06. This implies an EPS growth rate of 25.70% for this year and 845.50% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 3.00%.
Float and Shares Shorts:
At present, 35.12 million HROW shares are outstanding with a float of 32.11 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.98 million, which was 11.33% higher than short shares on Jul 30, 2023. In addition to Mr. Mark L. Baum J.D. as the firm’s CEO & Chairman, Mr. Andrew R. Boll C.F.A., C.M.A., CFA, CMA serves as its CFO & Corp. Sec.
Through their ownership of 65.32% of HROW’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.54% of HROW, in contrast to 21.21% held by mutual funds. Shares owned by individuals account for 19.09%. As the largest shareholder in HROW with 10.75% of the stake, Opaleye Management, Inc. holds 3,775,000 shares worth 3,775,000. A second-largest stockholder of HROW, Morgan Stanley & Co. LLC, holds 1,759,051 shares, controlling over 5.01% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in HROW, holding 1,637,499 shares or 4.66% stake. With a 2.83% stake in HROW, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 992,128 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.65% of HROW stock, is the second-largest Mutual Fund holder. It holds 578,044 shares valued at 8.77 million. Fidelity Strategic Advisers Small holds 1.44% of the stake in HROW, owning 504,629 shares worth 7.66 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, HROW reported revenue of $23.32M and operating income of $1.69M. The EBITDA in the recently reported quarter was $5.00k and diluted EPS was -$0.23.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HROW since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HROW analysts setting a high price target of $45.00 and a low target of $34.40, the average target price over the next 12 months is $38.80. Based on these targets, HROW could surge 205.5% to reach the target high and rise by 133.54% to reach the target low. Reaching the average price target will result in a growth of 163.41% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded HROW stock several times over the past three months with 5 Buys and 3 Sells. In these transactions, 1,411,800 shares were bought while 545,398 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 2,289,428 while 782,254 shares were sold.