Harmonic Inc. [NASDAQ: HLIT] closed the trading session at $5.72 on 09/18/20. The day’s price range saw the stock hit a low of $5.50, while the highest price level was $5.725.
The stocks have a year to date performance of -26.67 percent and weekly performance of 3.81 percent. The stock has been moved at 15.79 percent over the last six months. The stock has performed -5.45 percent around the most recent 30 days and changed 12.82 percent over the most recent 3-months.
If compared to the average trading volume of 675.01K shares, HLIT reached to a volume of 1170158 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 0.23, with the Price to Sales ratio for HLIT stock in the period of the last 12 months amounting to 1.38. The Price to Book ratio for the last quarter was 2.40, with the Price to Cash per share for the same quarter was set at 0.82. Price to Free Cash Flow for HLIT in the course of the last twelve months was 62.05 with Quick ratio for the last quarter at 1.20.
HLIT stock trade performance evaluation
Harmonic Inc. [HLIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.81. With this latest performance, HLIT shares dropped by -5.45% in over the last four-week period, additionally plugging by 15.79% over the last 6 months – not to mention a drop of -14.63% 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 49.81, with the RSI for the last a single of trading hit 49.20, and the three-weeks RSI is set at 49.02 for Harmonic Inc. [HLIT]. The present Moving Average for the last 50 days of trading for this stock 5.79, while it was recorded at 5.64 for the last single week of trading, and 6.19 for the last 200 days.
Harmonic Inc. [HLIT]: An insightful look at the core 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 1.20 and a Current Ratio set at 1.40.
Earnings per share (EPS) analysis for Harmonic Inc. [HLIT] stock
With the latest financial reports released by the company, Harmonic Inc. posted 0.25/share EPS, while the average EPS was predicted by analysts to be reported at 0.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 19.00%. 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 23.70%.
Harmonic Inc. [HLIT]: Insider Ownership positions
There are presently around $494 million, or 89.40% 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 15,960,335, which is approximately 1.169% of the company’s market cap and around 2.00% of the total institutional ownership; BLACKROCK INC., holding 14,550,134 shares of the stock with an approximate value of $83.23 million in HLIT stocks shares; and SCOPIA CAPITAL MANAGEMENT LP, currently with $52.87 million in HLIT stock with ownership of nearly 48.914% of the company’s market capitalization.
Positions in Harmonic Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 79 institutional holders increased their position in Harmonic Inc. [NASDAQ:HLIT] by around 8,192,376 shares. Additionally, 63 investors decreased positions by around 7,828,599 shares, while 25 investors held positions by with 70,323,811 shares. The mentioned changes placed institutional holdings at 86,344,786 shares, according to the latest SEC report filing. HLIT stock had 22 new institutional investments in for a total of 1,115,251 shares, while 24 institutional investors sold positions of 2,869,006 shares during the same period.