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Buying Buzz: Harrow Inc [HROW] 10% Owner Opaleye Management Inc. acquires 20,000 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Harrow Inc shares valued at $199,400 were purchased by Opaleye Management Inc. on Apr 25 ’24. At $9.97 per share, Opaleye Management Inc. acquired 20,000 shares. The insider’s holdings grew to 3,815,000 shares worth approximately $82.4 million following the completion of this transaction.

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Also, Opaleye Management Inc. purchased 8,285 shares, netting a total of over 84,093 in proceeds. Following the buying of shares at $10.15 each, the insider now holds 3,795,000 shares.

Before that, Opaleye Management Inc. had added 11,715 shares to its account. In a trade valued at $120,547, the 10% Owner bought Harrow Inc shares for $10.29 each. Upon closing the transaction, the insider’s holdings increased to 11,715 shares, worth approximately $81.79 million.

As published in their initiating research note from Craig Hallum on April 11, 2024, Harrow Inc [HROW] has been a Buy and the price target has been revised to $24. Earlier on September 24, 2021, Aegis Capital initiated its rating. Their recommendation was “a Buy” for HROW stock.

Analyzing HROW Stock Performance

During the last five days, there has been a surge of approximately 1.22%. Over the course of the year, Harrow Inc shares have jumped approximately 92.86%. Shares of the company reached a 52-week high of $22.28 on 06/25/24 and a 52-week low of $9.13 on 02/05/24. A 50-day SMA is recorded $16.14, while a 200-day SMA reached $12.73. Nevertheless, trading volume fell to 0.4 million shares from 0.27 million shares the previous day.

Support And Resistance Levels for Harrow Inc (HROW)

According to the 24-hour chart, there is a support level at 21.05, which, if violated, would cause prices to drop to 20.49. In the upper region, resistance lies at 22.14. The next price resistance is at 22.68. RSI (Relative Strength Index) is 72.87 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.02, which suggests the price will increase in the coming days. Percent R is at 12.48%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.

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