Notable Runner: What’s Harmonic Inc Downside After Today’s Huge Decline?

Notable Runner: What's Harmonic Inc Downside After Today's Huge Decline?

The stock of Harmonic Inc (NASDAQ:HLIT) is a huge mover today! About 3.20M shares traded hands or 507.78% up from the average. Harmonic Inc (NASDAQ:HLIT) has risen 73.14% since April 8, 2016 and is uptrending. It has outperformed by 67.49% the S&P500.
The move comes after 5 months negative chart setup for the $377.40 million company. It was reported on Nov, 10 by Barchart.com. We have $3.93 PT which if reached, will make NASDAQ:HLIT worth $45.29 million less.

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 the stock with “Outperform” rating in Wednesday, January 13 report. The firm has “Hold” rating given 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 Q2 2016. Its down 0.29, from 1 in 2016Q1. The ratio is negative, 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.
The New York-based Art Advisors Limited Liability Corp has invested 0% in Harmonic Inc (NASDAQ:HLIT). Cornerstone Advisors reported 1,400 shares or 0% of all its holdings. Lpl Limited Co last reported 0% of its portfolio in the stock. New York State Teachers Retirement Systems accumulated 0% or 284,506 shares. Arizona State Retirement has 40,118 shares for 0% of their US portfolio. Vanguard Group has 4.95M shares for 0% of their US portfolio. Df Dent reported 10,625 shares or 0% of all its holdings. Coe Cap Management Ltd holds 0% of its portfolio in Harmonic Inc (NASDAQ:HLIT) for 220,090 shares. Blackrock Fund accumulated 0% or 5.22M shares. Paloma Partners Management has invested 0% of its portfolio in Harmonic Inc (NASDAQ:HLIT). Royal Bank & Trust Of Canada accumulated 0% or 78,122 shares. Brown Advisory accumulated 0% or 16,464 shares. Rhumbline Advisers accumulated 115,617 shares or 0% of the stock. Tdam Usa holds 0.02% or 174,501 shares in its portfolio. Ladenburg Thalmann Financial Services, a Florida-based fund reported 3,665 shares.

More news for Harmonic Inc (NASDAQ:HLIT) were recently published by: Fool.com, which released: “Why Harmonic, Inc. Shares Popped Today” on September 28, 2016. Fool.com‘s article titled: “Why Shares of Harmonic Inc. Soared Today” and published on August 10, 2016 is yet another important article.

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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