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 $577,430 were sold by Graham Ian on May 02 ’24. At $10.95 per share, Graham Ian sold 52,730 shares. The insider’s holdings dropped to 63,616 shares worth approximately $0.72 million following the completion of this transaction.
Also, Haltmayer Neven sold 14,747 shares, netting a total of over 201,676 in proceeds. Following the sale of shares at $13.68 each, the insider now holds 156,559 shares.
Before that, Ben-Natan Nimrod had sold 100,000 shares from its account. In a trade valued at $1,291,120, the SVP & GM, Broadband Business traded Harmonic, Inc. shares for $12.91 each. Upon closing the transaction, the insider’s holdings decreased to 100,000 shares, worth approximately $3.43 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 surge of approximately 2.25%. Over the course of the year, Harmonic, Inc. shares have dropped approximately -12.96%. Shares of the company reached a 52-week high of $14.18 on 02/14/24 and a 52-week low of $9.10 on 04/26/24. A 50-day SMA is recorded $11.80, while a 200-day SMA reached $11.34. Nevertheless, trading volume fell to 1.38 million shares from 1.25 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 11.11, which, if violated, would cause prices to drop to 10.86. In the upper region, resistance lies at 11.50. The next price resistance is at 11.65. RSI (Relative Strength Index) is 56.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.74, which suggests the price will decrease in the coming days. Percent R is at 25.25%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
