Harmonic Inc. (NASDAQ:HLIT) Relative Strength Index (RSI) is 43.57, with weekly volatility at 2.91% and ATR at 0.27. The HLIT stock’s 52-week price range has touched low of $4.49 and a $9.20 high. Intraday shares traded counted 0.46 million, which was 32.16% higher than its 30-day average trading volume of 679.34K. Its shares traded higher over the last trading session, gaining 1.60% on 05/27/21. The shares fell to a low of $6.93 before closing at $6.99. HLIT’s previous close was $6.88 while the outstanding shares total 98.02M. The firm has a beta of 0.79.
Investors have identified the Communication Equipment company Harmonic Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $706.62 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Harmonic Inc. (HLIT) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. In terms of their assets, the company currently has 260.67 million total, with 192.56 million as their total liabilities.
HLIT were able to record -1.97 million as free cash flow during the 08/02/2021 quarter of the year, this saw their quarterly net cash flow reduce by 2.13 million. In cash movements, the company had a total of 1.68 million as operating cash flow.
Potential earnings growth for Harmonic Inc. (HLIT)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/02/2021 quarter of the year, Harmonic Inc. recorded a total of 111.58 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 29.72% coming in sequential stages and their sales for the 08/02/2021 quarter reducing by -17.88%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 56.43 million trying to sell their products during the last quarter, with the result yielding a gross income of 55.15 million. This allows shareholders to hold on to 98.02M with the recently reported earning now reading -0.06 cents per share. This is a figure that compared to analyst’s prediction for their 08/02/2021 (-0.04 cents a share).
Having a look at the company’s valuation, the company is expected to record 0.24 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on HLIT sounds very interesting.
Is the stock of HLIT attractive?
In related news, SVP, Video R&D, Haltmayer Neven sold 80,000 shares of the company’s stock in a transaction that recorded on Apr 14. The sale was performed at an average price of 9.00, for a total value of 720,000. As the sale deal closes, the President and CEO, HARSHMAN PATRICK now sold 106,502 shares of the company’s stock, valued at 867,352. Also, SVP & GM, Cable Access, Ben-Natan Nimrod sold 59,520 shares of the company’s stock in a deal that was recorded on Feb 22. The shares were price at an average price of 7.97 per share, with a total market value of 474,374. Following this completion of acquisition, the SVP & GM, Cable Access, Ben-Natan Nimrod now holds 40,480 shares of the company’s stock, valued at 321,128. In the last 6 months, insiders have changed their ownership in shares of company stock by 2.60%.
3 out of 7 analysts covering the stock have rated it a Buy, while 3 have maintained a Hold recommendation on Harmonic Inc.. 0 analysts has assigned a Sell rating on the HLIT stock. The 12-month mean consensus price target for the company’s shares has been set at $9.14.