Currently, there are 116.54M common shares owned by the public and among those 113.96M shares have been available to trade.
The company’s stock has a 5-day price change of 14.29% and 51.49% over the past three months. HLIT shares are trading 9.20% year to date (YTD), with the 12-month market performance down to -4.69% lower. It has a 12-month low price of $8.80 and touched a high of $15.07 over the same period. HLIT has an average intraday trading volume of 1.22 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.47%, 20.39%, and 21.71% respectively.
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Institutional ownership of Harmonic, Inc. (NASDAQ: HLIT) shares accounts for 101.70% of the company’s 116.54M shares outstanding.
It has a market capitalization of $1.66B and a beta (3y monthly) value of 0.89. The stock’s trailing 12-month PE ratio is 29.31, while the earnings-per-share (ttm) stands at $0.49. The company has a PEG of 0.49 and a Quick Ratio of 1.32 with the debt-to-equity ratio at 0.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.98% over the week and 2.79% over the month.
Earnings per share for the fiscal year are expected to increase by 75.23%, and 64.78% over the next financial year.
Looking at the support for the HLIT, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on August 10, 2023, with the firm’s price target at $15-$16. Jefferies coverage for the Harmonic, Inc. (HLIT) stock in a research note released on January 09, 2023 offered a Buy rating with a price target of $19. Rosenblatt was of a view on May 24, 2022 that the stock is Buy, while Barclays gave the stock Overweight rating on April 21, 2022, issuing a price target of $11. Needham on their part issued Buy rating on June 22, 2021.
