Recent insider trends for Hardinge Inc. (NASDAQ:HDNG) have caught the attention of investors. Patters in insider activity can help analysts formulate an outlook for a stock. In the case of HDNG, the data has a lot to say about how the stock might perform going forward.
Institutions own 68.72% of Hardinge Inc. (HDNG)’s shares. The total value of these holdings, in millions, is $152. Among active positions in the latest quarter, 39 holders increased their positions by a total of 789274 shares, 33 holders decreased the positions by a total of 1.12 million shares, and 14 holders held their positions. This works out to a net decrease in ownership of 330778 shares, and suggests that institutions are feeling bearish about the stock.
Among new and sold out positions, 11 holders initiated new positions by a total of 171240 shares and 9 holders exited their positions by a total of 598392 shares. This nets out to a decrease of 427152 shares and is another bearish sign for HDNG.
In the last three months, insiders executed a total of 2 trades. 2 of these were buys. Insider ownership increased by a total of 2984 shares, which suggests that HDNG’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 25 buys and 3 sells, and ownership increased by a net of 161103 shares.
Analysts often look at short interest, or the number of shares currently being shorted by investors, to aid in their outlook for a particular stock. Hardinge Inc. (NASDAQ:HDNG)’s short interest is 51800 shares, or 0.46% of the float. This represents an increase of 0% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.
In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for HDNG. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that HDNG is a buy, which implies that HDNG is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Hardinge Inc. (NASDAQ:HDNG) is undervalued.