Harmonic (HLIT) Shares are Up 28.31%

Harmonic (HLIT) : Traders are bullish on Harmonic (HLIT) as it has outperformed the S&P 500 by a wide margin of 33.14% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 28.24%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 28.31% in the last 1 week, and is up 34.52% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 27.86% and the 50-Day Moving Average is 36.95%. Harmonic (NASDAQ:HLIT): stock turned positive on Friday. Though the stock opened at $4.06, the bulls momentum made the stock top out at $4.18 level for the day. The stock recorded a low of $3.9601 and closed the trading day at $4.17, in the green by 2.71%. The total traded volume for the day was 594,109. The stock had closed at $4.06 in the previous days trading.


The company Insiders own 4.66% of Harmonic shares according to the proxy statements. Institutional Investors own 90.9% of Harmonic shares. During last six month period, the net percent change held by insiders has seen a change of 4.32%. Also, In a research note released to the investors, Drexel Hamilton upgrades its rating on Harmonic (NASDAQ:HLIT).The analysts at the brokerage house have a current rating of Buy on the shares. Earlier, the shares were rated a Hold by the brokerage firm. The rating by the firm was issued on August 10, 2016.

Harmonic Inc. (Harmonic) designs, manufactures and sells video infrastructure products and system solutions. The Company operates in two business segments: Video and Cable Edge. Its Video business sells video processing and production and playout solutions and services around the world to cable operators and satellite and telecommunications (telco) Pay-TV service providers and to broadcast and media companies. The products offered in the Video business segment include video processing solutions, and video production platforms and playout solutions. Its Cable Edge business sells cable edge solutions and related services to cable operators globally. The products offered in the Cabled Edge segment include edge quadrature amplitude modulation (QAM) products, centralized converged cable access platform (CCAP) Solution and Distributed CCAP Solution.

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