Harman International Stock Falls On Unusually High Volume (HAR)
Harman International Industries (NYSE:HAR) is trading at unusually high volume Wednesday with 3.5 million shares changing hands. It is currently at 5.4 times its average daily volume and trading down 76 cents (-2.5%).
NEW YORK ( TheStreet) -- Harman International Industries (NYSE: HAR) is trading at unusually high volume Wednesday with 3.5 million shares changing hands. It is currently at 5.4 times its average daily volume and trading down 76 cents (-2.5%) at $29.28 as of 4:01 p.m. ET. Harman International has a market cap of $2 billion and is part of the consumer goods sector and consumer durables industry. Shares are down 35.1% year to date as of the close of trading on Tuesday. Harman International Industries, Incorporated engages in the development, manufacture, and marketing of audio products and electronic systems primarily in the United States, Germany, and other parts of Europe. The company has a P/E ratio of 15.3, above the average consumer durables industry P/E ratio of 8.2 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Harman International as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. You can view the full Harman International Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.