Harmonic, Inc. (NASDAQ: HLIT) stock fell -1.36% on Monday to $10.91 against a previous-day closing price of $11.06. With 1.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.93 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $11.17 whereas the lowest price it dropped to was $10.82. The 52-week range on HLIT shows that it touched its highest point at $18.43 and its lowest point at $8.80 during that stretch. It currently has a 1-year price target of $16.17. Beta for the stock currently stands at 0.89.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HLIT was up-trending over the past week, with a rise of 2.83%, but this was up by 5.31% over a month. Three-month performance surged to 2.44% while six-month performance fell -33.52%. The stock lost -20.36% in the past year, while it has lost -16.72% so far this year. A look at the trailing 12-month EPS for HLIT yields 0.05 with Next year EPS estimates of 0.78. For the next quarter, that number is 0.10. This implies an EPS growth rate of -37.58% for this year and 125.73% for next year.
Float and Shares Shorts:
At present, 109.87 million HLIT shares are outstanding with a float of 109.31 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.17 million, which was 7.28% higher than short shares on Sep 28, 2023. In addition to LIT as the firm’s Global X Lithium & Battery Tech, HLT serves as its Hilton Worldwide Holdings Inc..
Through their ownership of 101.65% of HLIT’s outstanding shares, institutional investors have majority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HLIT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HLIT analysts setting a high price target of $18.00 and a low target of $14.00, the average target price over the next 12 months is $16.17. Based on these targets, HLIT could surge 64.99% to reach the target high and rise by 28.32% to reach the target low. Reaching the average price target will result in a growth of 48.21% from current levels.
Summary of Insider Activity:
Insiders traded HLIT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 21 over the past year. The total number of shares bought during that period was 925,832 while 602,769 shares were sold.