Harmonic, Inc. (NASDAQ: HLIT) has a higher price-to-earnings ratio of 29.05x compared to its average ratio, The 36-month beta value for HLIT is at 0.88. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 2 rating it as “overweight,” 2 as “hold,” and 1 as “sell.”
The public float for HLIT is 113.79M, and currently, shorts hold a 4.50% of that float. The average trading volume for HLIT on August 15, 2024 was 1.18M shares.
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HLIT) stock’s latest price update
The stock of Harmonic, Inc. (NASDAQ: HLIT) has increased by 3.23 when compared to last closing price of 13.67.Despite this, the company has seen a gain of 6.26% in its stock price over the last five trading days. prnewswire.com reported 2024-08-15 that SAN JOSE, Calif. and COLOGNE, Germany, Aug. 15, 2024 /PRNewswire/ — German broadcaster RTL Deutschland has added eight new free ad-supported streaming television (FAST) channels to its video streaming service, expanding the number of viewing options for customers of its streaming service RTL+.
HLIT’s Market Performance
HLIT’s stock has risen by 6.26% in the past week, with a monthly rise of 11.99% and a quarterly rise of 24.88%. The volatility ratio for the week is 2.50% while the volatility levels for the last 30 days are 3.68% for Harmonic, Inc. The simple moving average for the last 20 days is 8.20% for HLIT’s stock, with a simple moving average of 18.55% for the last 200 days.
Analysts’ Opinion of HLIT
Many brokerage firms have already submitted their reports for HLIT stocks, with Raymond James repeating the rating for HLIT by listing it as a “Strong Buy.” The predicted price for HLIT in the upcoming period, according to Raymond James is $16 based on the research report published on August 10, 2023 of the previous year 2023.
Jefferies, on the other hand, stated in their research note that they expect to see HLIT reach a price target of $19, previously predicting the price at $14.25. The rating they have provided for HLIT stocks is “Buy” according to the report published on January 09th, 2023.
Rosenblatt gave a rating of “Buy” to HLIT, setting the target price at $15 in the report published on May 24th of the previous year.
HLIT Trading at 15.16% from the 50-Day Moving Average
After a stumble in the market that brought HLIT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.83% of loss for the given period.
Volatility was left at 3.68%, however, over the last 30 days, the volatility rate increased by 2.50%, as shares surge +12.84% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.97% upper at present.
During the last 5 trading sessions, HLIT rose by +5.53%, which changed the moving average for the period of 200-days by +41.71% in comparison to the 20-day moving average, which settled at $13.12. In addition, Harmonic, Inc. saw 8.21% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at HLIT starting from Haltmayer Neven, who sale 40,000 shares at the price of $14.41 back on Jul 31 ’24. After this action, Haltmayer Neven now owns 122,211 shares of Harmonic, Inc., valued at $576,480 using the latest closing price.
Graham Ian, the Officer of Harmonic, Inc., proposed sale 60,122 shares at $14.44 during a trade that took place back on Jul 31 ’24, which means that Graham Ian is holding shares at $868,411 based on the most recent closing price.
Stock Fundamentals for HLIT
Current profitability levels for the company are sitting at:
- -0.0 for the present operating margin
- 0.49 for the gross margin
The net margin for Harmonic, Inc. stands at 0.1. The total capital return value is set at -0.0. Equity return is now at value 15.42, with 8.08 for asset returns.
Based on Harmonic, Inc. (HLIT), the company’s capital structure generated 0.26 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at 0.34. The interest coverage ratio of the stock is -1.3.
Currently, EBITDA for the company is 35.92 million with net debt to EBITDA at 7.93. When we switch over and look at the enterprise to sales, we see a ratio of 3.16. The receivables turnover for the company is 4.49for trailing twelve months and the total asset turnover is 0.78. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.87.
Conclusion
In conclusion, Harmonic, Inc. (HLIT) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
