The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Harmonic, Inc. shares valued at $359,700 were purchased by HARSHMAN PATRICK on Aug 19 ’24. At $13.75 per share, HARSHMAN PATRICK acquired 26,160 shares.
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Also, Haltmayer Neven sold 40,000 shares, netting a total of over 576,480 in proceeds. Following the sale of shares at $14.41 each, the insider now holds 122,211 shares.
Before that, Graham Ian had added 60,122 shares to its account. In a trade valued at $868,411, the Officer bought Harmonic, Inc. shares for $14.44 each.
As published in a research note from Raymond James on October 29, 2024, Harmonic, Inc. [HLIT] has been rated down from a Strong buy to an Outperform and the price target has been revised to $14 from $17. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late October. As of August 10, 2023, Raymond James has increased its “an Outperform” rating to a “Strong buy” for HLIT. Earlier on January 09, 2023, Jefferies upgraded its rating. Their new recommendation was “a Buy” for HLIT stock which previously was a “a Hold”.
Analyzing HLIT Stock Performance
During the last five days, there has been a drop of approximately -19.86%. Over the course of the year, Harmonic, Inc. shares have dropped approximately -11.20%. Shares of the company reached a 52-week high of $15.46 on 10/28/24 and a 52-week low of $9.10 on 04/26/24. A 50-day SMA is recorded $13.94, while a 200-day SMA reached $12.62. Nevertheless, trading volume fell to 2.48 million shares from 7.26 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 11.22, which, if violated, would cause prices to drop to 10.86. In the upper region, resistance lies at 11.78. The next price resistance is at 11.98. RSI (Relative Strength Index) is 29.79 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.44, which suggests the price will decrease in the coming days. Percent R is at 76.45%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
