Harmonic Inc. (NASDAQ:HLIT) went up by 2.32% during the previous trading session, and it is maintaining the win ahead of Thursday’s trading session. The share price of the Communication Equipment giant went up by $4.86 to trade ended Thursday trading at $4.75. This is up from the $4.75 price recorded on Wednesday’s trading session. Thanks to this latest performance, HLIT is closer to the higher price 52-week target of $9.00 and further from the lowest price target of $5.75. Its performance from the start of the year has also been negative, with HLIT down by -37.69% year-to-date.
Harmonic Inc. (HLIT) started the day trading at $4.84 and recorded an intraday high of $4.99. It also recorded an intraday low of $4.8 during Thursday’s trading session. Harmonic Inc. is a very active stock that recorded a trading volume that is less than -49.0% of the average daily trading volume on Thursday. The stock’s trading volume on Thursday was 496391, which is less than -49.0 of the total average daily trading volume of 739.64K.
Harmonic Inc. (NASDAQ:HLIT) 2020 Performance Impressive
The increase in HLIT’s stock price on Thursday saw its overall performance boost over the past few months. We can quantify the performance of the stock so far this year using a few metrics. The 52-week high price of HLIT currently stands at $8.57, which is higher than the current trading price of the stock by 43.29%. However, HLIT’s current trading price is -9.46% lower than the 52-week low price of $4.44. In terms of trading volume, Harmonic Inc. currently experienced healthy participation during the last trading session. 496391 shares of Harmonic Inc. were traded on the stock exchange on Thursday, which is less than -49.0% of the 739.64K average trading volume of the stock.
The performance of the stock has been positive over the past year. HLIT’s performance over the past one year has seen it plunge by -17.06%, while the stock has gone down by -37.21% in the last six months. The quarterly performance of HLIT currently stands at -14.13%, and it is down by -10.66% in the last month. The only positive figure was from the weekly performance, which currently reads 4.07%. At the time of writing HLIT’s report, the company has a total market cap of $458.78M, making it one of the largest publicly-traded companies in the world.Harmonic Inc. also has over 807 employees all over the world.
HLIT Insider Activities
For Harmonic Inc., insiders hold 89.60% of all company shares. The insider transactions over the past six months are up by 19.40%. During that period, insiders bought 709,170 shares in 36 transactions. In that same period, insiders sold 281,334 of their shares in 23 transactions. After these transactions, insiders at Harmonic Inc. now hold 3.65M shares, which is over 87.68% of the total company stocks. Institutional investors currently hold a large chunk of the HLIT shares, as they control 3.78% of the company’s total stock.
HLIT Fundamental Analysis
For Harmonic Inc., the stock’s diluted earnings per share (EPS) stands at -0.18. In the coming year, analysts expect the EPS to be 0.16. The EPS growth will up over the next five years to 14.40% after surging by 33.30% in the previous five years. In terms of revenue, Harmonic Inc.’s quarterly sales (YOY) is shrinking at -0.13, which is lower than the average annual revenue of 33.30% over the past half a decade.
The Return on Investment (ROI) on Harmonic Inc.’s stock currently stands at 2.00%, and it has a net profit margin of -4.10%. The operating margin of the company is -0.60%, and its gross margin is 54.60%.
HLIT Analysts Prediction
Needham reiterate their Buy position on the stock ($7 and $10)
Stifel and Needham also believe that Harmonic Inc.’s stock is outperforming at the moment.
At the moment, Harmonic Inc.’s Total Debt to Equity ratio stands at 0.64, and they have a long-term Debt to Equity ratio of 0.43.
HLIT Technical Analysis
The Simple Moving Average (SMA) is one of the most powerful technical indicators. The 20-day Simple Moving Average of HLIT currently stands at -4.49%, while the SMA50 is -10.61%. The biggest one is the SMA200, which is currently reading -26.20% ahead of Thursday’s trading session. The Relative Strength Index of this stock is 42.81.
