Harmonic Inc. (HLIT) Sees Strong Trading Volume
Harmonic Inc. (NASDAQ:HLIT) shares saw strong trading volume on Wednesday . 748,759 shares were traded during mid-day trading, an increase of 23% from the previous session’s volume of 607,364 shares.The stock last traded at $4.73 and had previously closed at $4.65.
Several research firms recently issued reports on HLIT. Zacks Investment Research raised Harmonic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Jefferies Group restated a “hold” rating and set a $3.50 price objective on shares of Harmonic in a research note on Wednesday, August 10th. Drexel Hamilton restated a “hold” rating on shares of Harmonic in a research note on Tuesday, June 28th. Finally, TheStreet upgraded Harmonic from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Harmonic presently has a consensus rating of “Buy” and a consensus target price of $4.81.
The company has a 50-day moving average price of $4.32 and a 200 day moving average price of $3.40. The company’s market capitalization is $371.42 million.
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Institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Harmonic by 3.1% in the second quarter. Arizona State Retirement System now owns 40,118 shares of the company’s stock worth $114,000 after buying an additional 1,200 shares during the period. KBC Group NV increased its position in shares of Harmonic by 5.9% in the second quarter. KBC Group NV now owns 49,051 shares of the company’s stock worth $140,000 after buying an additional 2,733 shares during the period. Algert Global LLC increased its position in shares of Harmonic by 9.8% in the first quarter. Algert Global LLC now owns 47,643 shares of the company’s stock worth $156,000 after buying an additional 4,243 shares during the period. Sei Investments Co. acquired a new position in shares of Harmonic during the second quarter worth $237,000. Finally, Carleon Capital Partners LLC increased its position in shares of Harmonic by 4.8% in the second quarter. Carleon Capital Partners LLC now owns 119,473 shares of the company’s stock worth $340,000 after buying an additional 5,520 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.
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