Harmonic Drive Systems Inc. (OTCMKTS:HSYDF) Sees Significant Increase in Short Interest

Harmonic Drive Systems Inc. (OTCMKTS:HSYDF) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 1,168,874 shares, a growth of 49.3% from the August 31st total of 783,165 shares. Based on an average daily volume of 13,223 shares, the short-interest ratio is currently 88.4 days.

Harmonic Drive Systems Trading Up 0.9%

Shares of OTCMKTS HSYDF traded up $0.35 during trading hours on Thursday, hitting $41.77. The company had a trading volume of 168 shares, compared to its average volume of 3,902. Harmonic Drive Systems has a 1-year low of $16.20 and a 1-year high of $57.16. The firm’s 50 day moving average is $38.95 and its 200-day moving average is $38.46.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised Harmonic Drive Systems from an “underperform” rating to a “buy” rating in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Harmonic Drive Systems presently has an average rating of “Buy”.

Harmonic Drive Systems Company Profile

Harmonic Drive Systems Inc is a Japan-based manufacturer of precision motion-control and power-transmission equipment. The company is best known for its strain-wave gearing technology, also called harmonic gearing, which provides high reduction ratios, low backlash and accurate positioning in a compact design.

Its product portfolio includes precision gear reducers, rotary and linear actuators, gearheads, motors and related motion-control components. These products are used in applications such as industrial and collaborative robots, semiconductor and electronics manufacturing equipment, factory automation, machine tools, medical devices and other precision machinery.

Founded in Japan in 1970, Harmonic Drive Systems serves customers internationally through its operations and distribution network in Japan and other major industrial markets, including North America, Europe and Asia.