Harmonic, Inc. (NASDAQ:HLIT) shares, rose in value on Friday, April 26, with the stock price down by -0.43% to the previous day’s close as strong demand from buyers drove the stock to $9.16.
Actively observing the price movement in the recent trading, the stock is buoying the session at $9.20. The PE ratio was 12.67 over 12-month period. Referring to stock’s 52-week performance, its high was $18.43, and the low was $8.80. On the whole, HLIT has fluctuated by -32.25% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 669.31M, with a low estimate of 120M and a high estimate of 122.8M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 121.7M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that HLIT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0.33, with the price of HLIT currently trading nearly -18.08% and -25.86% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 18.27, while the 7-day volatility ratio is showing 3.13% which for the 30-day chart, stands at 3.70%. Furthermore, Harmonic, Inc. (HLIT)’s beta value is 0.93, and its average true range (ATR) is 0.42.
A comparison of Harmonic, Inc. (HLIT) with its peers suggests the former has fared considerably weaker in the market. HLIT showed an intraday change of -0.43% in today’s session so far, and over the past year, it shrunk by -33.67%%.
Data on historical trading for Harmonic, Inc. (NASDAQ:HLIT) indicates that the trading volumes over the past 3 months, they’ve averaged 1.96 million. According to company’s latest data on outstanding shares, there are 112.41 million shares outstanding.
Nearly 2.69% of Harmonic, Inc.’s shares belong to company insiders and institutional investors own 109.16% of the company’s shares. The stock has fallen by -29.75% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HLIT stock heading into the next quarter.
