Harmonic (HLIT) : Traders are getting increasingly bearish on Harmonic (HLIT), as can be seen in the addition of short positions from 8,880,855 on Jul 29, 2016, to 8,931,413 on August 15, 2016. The net change in shorts is 50,558 shares, an increase of 0.6%. 16 days remain before the expiry. The 11.8% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 575,519. The short interest information was released on Wednesday Aug 24th after the market close.
Harmonic (NASDAQ:HLIT): The stock opened at $4.23 on Wednesday but the bulls could not build on the opening and the stock topped out at $4.26 for the day. The stock traded down to $4.14 during the day, due to lack of any buying support eventually closed down at $4.19 with a loss of -0.95% for the day. The stock had closed at $4.23 on the previous day. The total traded volume was 189,541 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Harmonic Inc, Gallagher Patrick, had purchased 5,000 shares in a transaction dated on March 7, 2016. The transaction was executed at $3.24 per share with total amount equaling $16,200.
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.