News articles about Harmonic (NASDAQ:HLIT) have trended somewhat positive on Friday, Accern Sentiment Analysis reports. The research firm rates the sentiment of news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Harmonic earned a coverage optimism score of 0.08 on Accern’s scale. Accern also assigned news stories about the communications equipment provider an impact score of 45.8550133587188 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the media headlines that may have effected Accern’s rankings:
Harmonic (HLIT) traded down 1.72% on Friday, hitting $2.85. The stock had a trading volume of 500,873 shares. The stock has a 50-day moving average of $3.04 and a 200-day moving average of $4.32. Harmonic has a one year low of $2.80 and a one year high of $6.18. The company’s market cap is $231.63 million.
Harmonic (NASDAQ:HLIT) last announced its quarterly earnings results on Monday, July 31st. The communications equipment provider reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The firm had revenue of $82.30 million for the quarter, compared to the consensus estimate of $80.88 million. Harmonic had a negative return on equity of 13.22% and a negative net margin of 21.58%. The business’s revenue for the quarter was down 24.9% on a year-over-year basis. Equities analysts expect that Harmonic will post ($0.42) earnings per share for the current fiscal year.
A number of research firms have commented on HLIT. TheStreet downgraded Harmonic from a “c-” rating to a “d+” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded Harmonic from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine downgraded Harmonic from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Northland Securities set a $6.00 target price on Harmonic and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $4.00 target price (up previously from $3.50) on shares of Harmonic in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.15.
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In other Harmonic news, insider Patrick Harshman sold 7,979 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $3.47, for a total transaction of $27,687.13. Following the transaction, the insider now owns 570,733 shares of the company’s stock, valued at $1,980,443.51. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.27% of the stock is owned by insiders.
Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.
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