Harmonic, Inc (NASDAQ: HLIT)’s stock price has gone rise by 1.93 in comparison to its previous close of 13.44, however, the company has experienced a 6.95% increase in its stock price over the last five trading days. zacks.com reported 2024-12-19 that Two Wheels Motor Racing selects Harmonic’s solution to deliver high quality video streaming experience to motor racing enthusiasts.
Is It Worth Investing in Harmonic, Inc (NASDAQ: HLIT) Right Now?
Harmonic, Inc (NASDAQ: HLIT) has a higher price-to-earnings ratio of 18.80x compared to its average ratio. HLIT has 36-month beta value of 0.92. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 3 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for HLIT is 112.69M, and currently, short sellers hold a 2.75% ratio of that float. The average trading volume of HLIT on December 27, 2024 was 1.10M shares.
HLIT’s Market Performance
The stock of Harmonic, Inc (HLIT) has seen a 6.95% increase in the past week, with a 10.57% rise in the past month, and a -5.39% fall in the past quarter. The volatility ratio for the week is 2.91%, and the volatility levels for the past 30 days are at 2.55% for HLIT. The simple moving average for the past 20 days is 4.54% for HLIT’s stock, with a 8.88% simple moving average for the past 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 “Outperform.” The predicted price for HLIT in the upcoming period, according to Raymond James is $14 based on the research report published on October 29, 2024 of the current year 2024.
Raymond James gave a rating of “Strong Buy” to HLIT, setting the target price at $16 in the report published on August 10th of the previous year.
HLIT Trading at 6.34% 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 -11.38% of loss for the given period.
Volatility was left at 2.55%, however, over the last 30 days, the volatility rate increased by 2.91%, as shares surge +9.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.25% lower at present.
During the last 5 trading sessions, HLIT rose by +6.95%, which changed the moving average for the period of 200-days by +5.71% in comparison to the 20-day moving average, which settled at $13.11. In addition, Harmonic, Inc saw 5.06% 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 HARSHMAN PATRICK, who proposed sale 26,160 shares at the price of $13.75 back on Aug 19 ’24. After this action, HARSHMAN PATRICK now owns shares of Harmonic, Inc, valued at $359,700 using the latest closing price.
Haltmayer Neven, the SVP & Interim GM, Vid Business of Harmonic, Inc, sale 40,000 shares at $14.41 during a trade that took place back on Jul 31 ’24, which means that Haltmayer Neven is holding 122,211 shares at $576,480 based on the most recent closing price.
Stock Fundamentals for HLIT
Current profitability levels for the company are sitting at:
- 0.07 for the present operating margin
- 0.5 for the gross margin
The net margin for Harmonic, Inc stands at 0.14. The total capital return value is set at 0.07. Equity return is now at value 22.07, with 11.85 for asset returns.
Based on Harmonic, Inc (HLIT), the company’s capital structure generated 0.23 points at debt to capital in total, while cash flow to debt ratio is standing at 0.15. The debt to equity ratio resting at 0.3. The interest coverage ratio of the stock is 8.03.
Currently, EBITDA for the company is 34.09 million with net debt to EBITDA at 2.76. When we switch over and look at the enterprise to sales, we see a ratio of 2.71. The receivables turnover for the company is 3.59for trailing twelve months and the total asset turnover is 0.82. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.08.
Conclusion
To put it simply, Harmonic, Inc (HLIT) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as 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.
