Stock Mover of The Day: Is Selling Harmonic Inc Here a Winning Strategy?

Stock Mover of The Day: Is Selling Harmonic Inc Here a Winning Strategy?

The stock of Harmonic Inc (NASDAQ:HLIT) is a huge mover today! The stock decreased 2.87% or $0.17 during the last trading session, hitting $5.76. About 1.23M shares traded hands or 54.28% up from the average. Harmonic Inc (NASDAQ:HLIT) has risen 70.92% since March 1, 2016 and is uptrending. It has outperformed by 58.70% the S&P500.
The move comes after 6 months negative chart setup for the $453.28 million company. It was reported on Oct, 4 by We have $4.95 PT which if reached, will make NASDAQ:HLIT worth $63.46 million less.

Analysts await Harmonic Inc (NASDAQ:HLIT) to report earnings on October, 25. They expect $-0.01 earnings per share, up 66.67% or $0.02 from last year’s $-0.03 per share. After $-0.05 actual earnings per share reported by Harmonic Inc for the previous quarter, Wall Street now forecasts -80.00% EPS growth.

Harmonic Inc (NASDAQ:HLIT) Ratings Coverage

Out of 3 analysts covering Harmonic Inc (NASDAQ:HLIT), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Harmonic Inc has been the topic of 4 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Northland Capital initiated Harmonic Inc (NASDAQ:HLIT) rating on Wednesday, January 13. Northland Capital has “Outperform” rating and $5 price target. The company was initiated on Friday, July 24 by Drexel Hamilton. Drexel Hamilton upgraded the stock to “Buy” rating in Wednesday, August 10 report.

According to Zacks Investment Research, “Harmonic designs, manufactures and markets digital and fiber optic systems for delivering video, voice and data services over cable, satellite, telephone, and wireless networks. The company’s advanced solutions enable cable television and other network operators to provide a range of broadcast and interactive broadband services that include high-speed Internet access, telephony and video on demand. The company offers a broad range of fiber optic transmission and digital headend products for hybrid fiber coax, satellite and wireless networks.”

Insitutional Activity: The institutional sentiment decreased to 0.71 in 2016 Q2. Its down 0.29, from 1 in 2016Q1. The ratio worsened, as 13 funds sold all Harmonic Inc shares owned while 52 reduced positions. 10 funds bought stakes while 36 increased positions. They now own 72.60 million shares or 3.52% more from 70.14 million shares in 2016Q1.
Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Harmonic Inc (NASDAQ:HLIT) for 1,406 shares. Teachers Advsr holds 0% of its portfolio in Harmonic Inc (NASDAQ:HLIT) for 127,376 shares. Moreover, Teachers Retirement Sys Of The State Of Kentucky has 0% invested in Harmonic Inc (NASDAQ:HLIT) for 29,100 shares. Renaissance Limited Liability Co holds 0.01% of its portfolio in Harmonic Inc (NASDAQ:HLIT) for 1.22M shares. Comerica Natl Bank accumulated 76,278 shares or 0% of the stock. Moreover, Css Llc Il has 0% invested in Harmonic Inc (NASDAQ:HLIT) for 12,176 shares. Profund Advsr Lc has 0% invested in the company for 26,286 shares. Metropolitan Life Ny has 63,609 shares for 0% of their US portfolio. State Street has 1.67M shares for 0% of their US portfolio. Moreover, Employees Retirement Association Of Colorado has 0% invested in Harmonic Inc (NASDAQ:HLIT) for 46,074 shares. Schwab Charles Inv Mngmt holds 578,193 shares or 0% of its portfolio. Asset Advisors Corp accumulated 12,000 shares or 0.01% of the stock. Lpl Fincl Limited Liability Co has 29,223 shares for 0% of their US portfolio. Royal Bancorp Of Canada accumulated 78,122 shares or 0% of the stock. Moreover, Epoch Prtnrs has 0.06% invested in Harmonic Inc (NASDAQ:HLIT) for 5.57M shares.

More recent Harmonic Inc (NASDAQ:HLIT) news were published by: which released: “Why Harmonic, Inc. Shares Popped Today” on September 28, 2016. Also published the news titled: “Why Shares of Harmonic Inc. Soared Today” on August 10, 2016.‘s news article titled: “Harmonic reaches warrant deal with Comcast” with publication date: September 27, 2016 was also an interesting one.

HLIT Company Profile

Harmonic Inc. (Harmonic), incorporated on March 29, 1995, designs, makes and sells video infrastructure products and system solutions. The Firm has two divisions: Video and Cable Edge. Harmonic provides technical support and professional services to its clients around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers. The Company’s Cable Edge business sells cable edge solutions and related services to cable operators around the world.

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