Short Interest in Harmonic Drive Systems Inc. (OTCMKTS:HSYDF) Declines By 47.5%

Harmonic Drive Systems Inc. (OTCMKTS:HSYDF) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 783,165 shares, a drop of 47.5% from the August 15th total of 1,490,950 shares. Based on an average daily volume of 3,970 shares, the days-to-cover ratio is presently 197.3 days.

Harmonic Drive Systems Price Performance

HSYDF stock opened at $37.68 on Tuesday. Harmonic Drive Systems has a twelve month low of $16.20 and a twelve month high of $57.16. The company’s 50 day moving average is $39.97 and its two-hundred day moving average is $37.40.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upgraded shares of Harmonic Drive Systems from an “underperform” rating to a “buy” rating in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Harmonic Drive Systems Company Profile

Harmonic Drive Systems Inc produces and sells precision control equipment and components worldwide. It offers speed reducers, rotary actuators, linear actuators, AC servo motors, and other mechatronics products, as well as otors, sensors, drivers, controllers, and other system elements. The company also provides HarmonicDrive, a speed reducer for space; high-precision planetary speed reducers under the AccuDrive and Harmonic Planetary brands; and high-performance gear heads for servo motors series.