Harrow Inc (NASDAQ: HROW) stock jumped 4.19% on Friday to $8.96 against a previous-day closing price of $8.60. With 0.94 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.66 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $8.97 whereas the lowest price it dropped to was $8.26. The 52-week range on HROW shows that it touched its highest point at $28.25 and its lowest point at $7.60 during that stretch. It currently has a 1-year price target of $28.13. Beta for the stock currently stands at 0.30.
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 -30.14%, but this was down by -36.59% over a month. Three-month performance dropped to -46.44% while six-month performance fell -57.97%. The stock lost -14.26% in the past year, while it has lost -39.30% so far this year. A look at the trailing 12-month EPS for HROW yields -0.45 with Next year EPS estimates of 0.16. For the next quarter, that number is -0.04. This implies an EPS growth rate of -1.31% for this year and 130.32% 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 3.03%.
Float and Shares Shorts:
At present, 35.12 million HROW shares are outstanding with a float of 31.90 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.26 million, which was 17.83% higher than short shares on Sep 28, 2023. In addition to Mr. Mark L. Baum J.D. as the firm’s CEO & Chairman of the Board, Mr. Andrew R. Boll C.F.A., C.M.A. serves as its CFO & Corporate Secretary.
Institutional Ownership:
Through their ownership of 65.32% of HROW’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.70% of HROW, in contrast to 22.15% held by mutual funds. Shares owned by individuals account for 21.28%. As the largest shareholder in HROW with 10.38% of the stake, Opaleye Management, Inc. holds 3,645,000 shares worth 3,645,000. A second-largest stockholder of HROW, BlackRock Fund Advisors, holds 1,852,168 shares, controlling over 5.28% of the firm’s shares. Braidwell LP is the third largest shareholder in HROW, holding 1,808,684 shares or 5.15% 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 1.91% of HROW stock, is the second-largest Mutual Fund holder. It holds 669,676 shares valued at 9.6 million. Fidelity Strategic Advisers Small holds 1.89% of the stake in HROW, owning 663,833 shares worth 9.52 million.
Analysts Ratings:
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 $34.40 and a low target of $20.00, the average target price over the next 12 months is $28.13. Based on these targets, HROW could surge 283.93% to reach the target high and rise by 123.21% to reach the target low. Reaching the average price target will result in a growth of 213.95% from current levels.
Summary of Insider Activity:
Insiders traded HROW stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 20,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 2,298,343 while 742,254 shares were sold.
