Short Interest in Harmonic Drive Systems Inc. (OTCMKTS:HSYDF) Decreases By 47.5%

Harmonic Drive Systems Inc. (OTCMKTS:HSYDF) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totaling 783,165 shares, a drop of 47.5% from the August 15th total of 1,490,950 shares. Based on an average trading volume of 3,970 shares, the days-to-cover ratio is presently 197.3 days.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upgraded shares of Harmonic Drive Systems from an “underperform” rating to a “buy” rating in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Harmonic Drive Systems Stock Up 3.8%

Harmonic Drive Systems stock traded up $1.48 during midday trading on Wednesday, reaching $39.85. The company’s stock had a trading volume of 2,663 shares, compared to its average volume of 3,964. The business has a 50-day simple moving average of $39.78 and a 200-day simple moving average of $37.46. Harmonic Drive Systems has a fifty-two week low of $16.20 and a fifty-two week high of $57.16.

About Harmonic Drive Systems

Harmonic Drive Systems Inc produces and sells precision control equipment and components worldwide. It offers speed reducers, rotary actuators, linear actuators, AC servo motors, and other mechatronics products, as well as otors, sensors, drivers, controllers, and other system elements. The company also provides HarmonicDrive, a speed reducer for space; high-precision planetary speed reducers under the AccuDrive and Harmonic Planetary brands; and high-performance gear heads for servo motors series.