Harmonic Inc. (HLIT) Sees Large Volume Increase
Shares of Harmonic Inc. (NASDAQ:HLIT) saw unusually-high trading volume on Friday . Approximately 1,783,693 shares traded hands during trading, an increase of 225% from the previous session’s volume of 548,069 shares.The stock last traded at $5.01 and had previously closed at $4.45.
HLIT has been the subject of a number of research analyst reports. TheStreet raised Harmonic from a “sell” rating to a “hold” rating in a research note on Tuesday. Drexel Hamilton raised Harmonic from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Wednesday, August 10th. Zacks Investment Research raised Harmonic from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research note on Monday, August 15th. Finally, Jefferies Group reissued a “hold” rating and set a $3.50 price target on shares of Harmonic in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $4.81.
The stock’s market capitalization is $397.95 million. The firm’s 50 day moving average price is $3.69 and its 200 day moving average price is $3.25.
Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers 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.
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