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Harmonic, Inc. [HLIT] Investment Appeal on the Rise

In a filing, Harmonic, Inc. revealed its SVP, Video R&D Haltmayer Neven unloaded Company’s shares for reported $0.2 million on Feb 16 ’24. In the deal valued at $13.68 per share,14,747 shares were sold. As a result of this transaction, Haltmayer Neven now holds 156,559 shares worth roughly $1.47 million.

Then, Ben-Natan Nimrod sold 100,000 shares, generating $1,291,120 in total proceeds. Upon selling the shares at $12.91, the SVP & GM, Broadband Business now owns 302,214 shares.

Before that, Haltmayer Neven sold 10,558 shares. Harmonic, Inc. shares valued at $138,462 were divested by the SVP, Video R&D at a price of $13.11 per share. As a result of the transaction, Haltmayer Neven now holds 171,306 shares, worth roughly $1.61 million.

Raymond James upgraded its Harmonic, Inc. [HLIT] rating to a Strong buy from a an Outperform in a research note published on August 10, 2023; the price target was increased to $16 from $15. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in early January from “a Hold” to “a Buy”. Rosenblatt began covering HLIT with “Buy” recommendation on May 24, 2022. Barclays revised its rating on April 21, 2022. It rated HLIT as “an Overweight” which previously was an “an Equal weight”.

Price Performance Review of HLIT

On Monday, Harmonic, Inc. [NASDAQ:HLIT] saw its stock jump 2.17% to $9.40. Over the last five days, the stock has lost -3.09%. Harmonic, Inc. shares have fallen nearly -27.91% since the year began. Nevertheless, the stocks have fallen -31.83% over the past one year. While a 52-week high of $18.43 was reached on 02/14/24, a 52-week low of $8.80 was recorded on 04/26/24. SMA at 50 days reached $12.17, while 200 days put it at $11.52. A total of 2.34 million shares were traded, compared to the trading of 1.7 million shares in the previous session.

Levels Of Support And Resistance For HLIT Stock

The 24-hour chart illustrates a support level at 9.20, which if violated will result in even more drops to 9.00. On the upside, there is a resistance level at 9.56. A further resistance level may holdings at 9.73. The Relative Strength Index (RSI) on the 14-day chart is 23.82, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.46%. Stochastics %K at 6.16% indicates the stock is a buying.

The most recent change occurred on June 22, 2021 when Needham began covering the stock and recommended ‘”a Buy”‘ rating along with a $9.50 price target.

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