Harmonic, Inc. [NASDAQ: HLIT] loss -14.61% or -1.92 points to close at $11.22 with a heavy trading volume of 6594828 shares. The company report on April 9, 2024 at 4:30 PM that Harmonic Announces Conference Call to Discuss Recent Company Announcements.
Harmonic (NASDAQ: HLIT) today announced it will host a conference call on Thursday, April 11, 2024 at 1:30 p.m. PT to discuss recent company announcements.
To participate via telephone, please register in advance using this link,https://register.vevent.com/register/BI7c5189f64d0643b186ec2565e8edd2b5.
The daily chart for HLIT points out that the company has recorded 22.22% gains over the past six months.
If we look at the average trading volume of 1.71M shares, HLIT reached to a volume of 6594828 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $16.00 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 1.17. 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.
Raymond James have made an estimate for Harmonic, Inc. shares, keeping their opinion on the stock as Strong Buy, with their previous recommendation back on August 10, 2023. While these analysts kept the previous recommendation, Jefferies raised their target price from $14.25 to $19. The new note on the price target was released on January 09, 2023, representing the official price target for Harmonic, Inc. stock. Previously, the target price had yet another raise to $15, while Rosenblatt analysts kept a Buy rating on HLIT stock.
The Average True Range (ATR) for Harmonic, Inc. is set at 0.54, with the Price to Sales ratio for HLIT stock in the period of the last 12 months amounting to 2.07. The Price to Book ratio for the last quarter was 2.89, with the Price to Cash per share for the same quarter was set at 0.75.
Trading performance analysis for HLIT stock
Harmonic, Inc. [HLIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.09. With this latest performance, HLIT shares dropped by -14.09% in over the last four-week period, additionally plugging by 22.22% over the last 6 months – not to mention a drop of -23.20% 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 30.79, with the RSI for the last a single of trading hit 24.71, and the three-weeks RSI is set at 35.72 for Harmonic, Inc. [HLIT]. The present Moving Average for the last 50 days of trading for this stock 13.02, while it was recorded at 12.73 for the last single week of trading, and 11.95 for the last 200 days.
Harmonic, Inc. [HLIT]: A deeper dive into fundamental analysis
Harmonic, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.21.
Harmonic, Inc. [HLIT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Harmonic, Inc. posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. 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 38.90%.
An analysis of Institutional ownership at Harmonic, Inc. [HLIT]
The top three institutional holders of HLIT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in HLIT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in HLIT stock with ownership which is approximately 5.8386%.
