Harman International Industries Incorporated June 15th Short Interest Update

Harman International Industries Incorporated (NYSE:HAR) reported a rise of 2.7% or 84,636 shares in its short interest. The short figure came in at 4.7% of the total floats. The average daily volume of 663,937 shares suggests that the days to cover 3,239,701 short positions, as on June 15,2016, will be 5. On May 31,2016, the short interest was 3,155,065 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Harman International Industries Incorporated (NYSE:HAR): The stock opened at $73.40 on Friday but the bulls could not build on the opening and the stock topped out at $73.42 for the day. The stock traded down to $70.24 during the day, due to lack of any buying support eventually closed down at $70.65 with a loss of -8.04% for the day. The stock had closed at $76.83 on the previous day. The total traded volume was 2,214,397 shares.

The company shares have dropped -40.36% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $124.86 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $75.85 and the 200 Day Moving Average price is recorded at $80.73.

Harman International Industries Incorporated (NYSE:HAR) has tumbled 6.03% during the past week and has dropped 9.18% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.47%. Harman International Industries Incorporated (NYSE:HAR) has underperformed the index by 6.43% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Harman International Industries, Incorporated, is engaged in the designing and engineering of connected products and solutions for automakers, consumers and enterprises, including audio systems, visual products, enterprise automation solutions and connected services. The Company operates through four segments. The Infotainment segment offers infotainment systems for vehicle applications. The Lifestyle segment offers car audio systems for vehicle applications, as well as a range of loudspeaker and electronics for home, multimedia and mobile applications. The Professional segment provides audio, lighting, video and control and automation solutions for commercial, enterprise and public space applications. The Services segment creates software solutions that integrate design, mobility, cloud and analytics. Its brands include AKG, AMX, Crown, Harman/Kardon, Infinity, JBL, JBL Professional, Lexicon, Mark Levinson, Martin, Revel, Soundcraft and Studer.

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