NEW YORK ( TheStreet) -- Harmonic (Nasdaq: HLIT) hit a new 52-week low Thursday as it is currently trading at $4.20, below its previous 52-week low of $4.40 with 48,376 shares traded as of 9:35 a.m. ET. Average volume has been 1.3 million shares over the past 30 days.

Harmonic has a market cap of $527.5 million and is part of the technology sector and telecommunications industry. Shares are down 48.7% year to date as of the close of trading on Wednesday.

Harmonic Inc. designs, manufactures, and sells video infrastructure products and system solutions to create, prepare, and deliver broadcast and on-demand video services to televisions, personal computers, and mobile devices.
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TheStreet Ratings rates Harmonic as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself. You can view the full Harmonic Ratings Report.

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