Harris Corporation (HRS) traded on unusually high volume on Dec. 17, as the stock lost 1.72% to close at $145.91. On the day, Harris Corporation saw 2.45 million shares trade hands on 23,404 trades. Considering that the stock averages only a daily volume of 1.25 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $175.50 and $134.30 over the last 52-weeks, its 50-day SMA is now $153.32, and its 200-day SMA $155.08. Harris Corporation has a P/B ratio of 5.29. It also has a P/E ratio of 23.3.
Harris Corporation is a provider of electronic systems with applications in defense, civil government, and commercial applications. The United States government and its contractors are the firm’s largest customers. Its products include communications systems, serving defense and public safety networks; space and intelligence systems, providing Earth observation, environmental and geospatial solutions; and critical networks, for use in air traffic management, energy and maritime communications, and ground network operations.
Headquartered in Melbourne, FL, Harris Corporation has 17,500 employees and is currently under the leadership of CEO William M. Brown.