Taking a Look at the Data Behind Harmonic Inc. (HLIT)

Harmonic Inc. (HLIT) is an interesting player in the Technology space, with a focus on Communication Equipment. The stock has been active on the tape, currently trading at $3.65, down from yesterday’s close by -5.19%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Does this stock stack up well when compared to its peers in the industry space? Let’s take a look. Harmonic Inc. (HLIT) currently trades with a market capitalization of $290.28 Million. That value represents a market adjusting for revenues that have been falling by -24.88 % on a quarterly year/year basis as of the company’s last quarterly report.

The balance sheet health of any company plays a key role in its ability to meet its obligations and maintain the faith of its investment base. For HLIT, the company currently has $52.89 Million of cash on the books, which is offset by $7.13 Million current liabilities. You can get a sense of how sustainable that is by a levered free cash flow of $-2 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $-0.13 on a per share basis this quarter. Perhaps, that suggests something about why 94.28% of the outstanding share supply is held by institutional investors.

Technical Analysis

We’ve taken a serious look at this stock from a fundamental perspective, but the tale of the tape may offer more hints about what lies under the surface. Looking at the stock’s movement on the chart, Harmonic Inc. recorded a 52-week high of $6.18. It is now trading 2.53% off that level. The stock is trading $4.86 its 50-day moving average by 1.21%. The stock carved out a 52-week low down at $3.25.

In recent action, Harmonic Inc. (HLIT) has made a move of -29.81% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 4.92, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 13.73% with $78.54 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of HLIT.

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