Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Harmonic, Inc. shares valued at $201,676 were sold by Haltmayer Neven on Feb 16 ’24. At $13.68 per share, Haltmayer Neven sold 14,747 shares. The insider’s holdings dropped to 156,559 shares worth approximately $1.44 million following the completion of this transaction.
Also, Ben-Natan Nimrod sold 100,000 shares, netting a total of over 1,291,120 in proceeds. Following the sale of shares at $12.91 each, the insider now holds 302,214 shares.
Before that, Haltmayer Neven had sold 10,558 shares from its account. In a trade valued at $138,462, the SVP, Video R&D traded Harmonic, Inc. shares for $13.11 each. Upon closing the transaction, the insider’s holdings decreased to 10,558 shares, worth approximately $1.58 million.
As published in a research note from Raymond James on August 10, 2023, Harmonic, Inc. [HLIT] has been rated up from an Outperform to a Strong buy and the price target has been revised to $16 from $15. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of May 24, 2022, Rosenblatt has initiated its “Buy” rating for HLIT. Earlier on April 21, 2022, Barclays upgraded its rating. Their new recommendation was “an Overweight” for HLIT stock which previously was a “an Equal weight”.
Analyzing HLIT Stock Performance
During the last five days, there has been a drop of approximately -7.91%. Over the course of the year, Harmonic, Inc. shares have dropped approximately -29.45%. Shares of the company reached a 52-week high of $14.18 on 02/14/24 and a 52-week low of $9.13 on 04/25/24. A 50-day SMA is recorded $12.36, while a 200-day SMA reached $11.59. Nevertheless, trading volume fell to 2.79 million shares from 1.61 million shares the previous day.
Support And Resistance Levels for Harmonic, Inc. (HLIT)
According to the 24-hour chart, there is a support level at 9.10, which, if violated, would cause prices to drop to 9.00. In the upper region, resistance lies at 9.33. The next price resistance is at 9.46. RSI (Relative Strength Index) is 18.50 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.95, which suggests the price will decrease in the coming days. Percent R is at 98.14%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
