Harmonic Inc. [NASDAQ: HLIT] slipped around -0.29 points on Wednesday, while shares priced at $4.72 at the close of the session, down -5.79%. Harmonic Inc. stock is now -39.49% down from its year-to-date (YTD) trading value. HLIT Stock saw the intraday high of $4.99 and lowest of $4.66 per share. The company’s 52-week high price is 8.57, which means current price is +6.31% above from all time high which was touched on 01/24/20.
Compared to the average trading volume of 760.23K shares, HLIT reached a trading volume of 838593 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Harmonic Inc. [HLIT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HLIT shares is $7.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HLIT stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Harmonic Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 01, 2020. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on May 22, 2020, representing the official price target for Harmonic Inc. stock. Previously, the target price had yet another raise to $9, while JP Morgan analysts kept a Overweight rating on HLIT stock. On July 30, 2019, analysts increased their price target for HLIT shares from 7 to 10.
The Average True Range (ATR) for Harmonic Inc. is set at 0.25, with the Price to Sales ratio for HLIT stock in the period of the last 12 months amounting to 1.14. The Price to Book ratio for the last quarter was 1.91, with the Price to Cash per share for the same quarter was set at 0.74.
How has HLIT stock performed recently?
Harmonic Inc. [HLIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.81. With this latest performance, HLIT shares dropped by -16.31% in over the last four-week period, additionally sinking by -39.87% over the last 6 months – not to mention a drop of -15.71% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HLIT stock in for the last two-week period is set at 30.57, with the RSI for the last a single of trading hit 25.91, and the three-weeks RSI is set at 37.37 for Harmonic Inc. [HLIT]. The present Moving Average for the last 50 days of trading for this stock 5.62, while it was recorded at 4.99 for the last single week of trading, and 6.64 for the last 200 days.
Harmonic Inc. [HLIT]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Harmonic Inc. [HLIT] shares currently have an operating margin of +4.37 and a Gross Margin at +54.92. Harmonic Inc.’s Net Margin is presently recorded at -1.47.
Return on Total Capital for HLIT is now 4.39, given the latest momentum, and Return on Invested Capital for the company is -1.61. Return on Equity for this stock declined to -2.46, with Return on Assets sitting at -1.08. When it comes to the capital structure of this company, Harmonic Inc. [HLIT] has a Total Debt to Total Equity ratio set at 73.79. Additionally, HLIT Total Debt to Total Capital is recorded at 42.46, with Total Debt to Total Assets ending up at 31.72. Long-Term Debt to Equity for the company is recorded at 50.43, with the Long-Term Debt to Total Capital now at 29.02.
Reflecting on the efficiency of the workforce at the company, Harmonic Inc. [HLIT] managed to generate an average of -$5,055 per employee. Receivables Turnover for the company is 3.97 with a Total Asset Turnover recorded at a value of 0.73.Harmonic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.
Earnings analysis for Harmonic Inc. [HLIT]
With the latest financial reports released by the company, Harmonic Inc. posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 42.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HLIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Harmonic Inc. go to 14.40%.
Insider trade positions for Harmonic Inc. [HLIT]
There are presently around $429 million, or 89.60% of HLIT stock, in the hands of institutional investors. The top three institutional holders of HLIT stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 15,775,898, which is approximately 3.325% of the company’s market cap and around 2.70% of the total institutional ownership; BLACKROCK INC., holding 14,053,873 shares of the stock with an approximate value of $70.41 million in HLIT stocks shares; and SCOPIA CAPITAL MANAGEMENT LP, currently with $31.09 million in HLIT stock with ownership of nearly 58.511% of the company’s market capitalization.
Positions in Harmonic Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 81 institutional holders increased their position in Harmonic Inc. [NASDAQ:HLIT] by around 10,127,498 shares. Additionally, 81 investors decreased positions by around 8,267,326 shares, while 22 investors held positions by with 67,277,062 shares. The mentioned changes placed institutional holdings at 85,671,886 shares, according to the latest SEC report filing. HLIT stock had 21 new institutional investments in for a total of 1,505,550 shares, while 38 institutional investors sold positions of 2,380,346 shares during the same period.