These are Year One values. Hard Light has been brought over to year two!
Hard Light is a mid-ROF (88), mid-Impact (8) Exotic Auto Rifle. It has average Range (28), but boasts a best-in-class Reload Speed (86) and an upper-tie Stability (60) which can be further improved with Fitted Stock.
Excerpt from "'Should I Buy It?' – Hard Light & Other Exotics"
Hard Light's main feature is ammunition which penetrates & ricochets. (It's a bit like Armor Piercing Rounds + Skip Rounds.) To further push its solid Stability, Hard Light offers Fitted Stock and several barrels. Hard Light is an amusing weapon to use. Is it any good? Not especially. Even with high Stability, it has an inescapable "shake" when firing. You also won't find the overpenetration / ricochet shots as useful as you'd like.
Dec. 1, 2014: Hard Light's Stability was buffed by +23 (46 to 69), a very significant increase. Combined with the Fitted Stock, this means a possible Stability of ~94. That's currently the highest possible Stability for an Auto Rifle.
Feb. 25, 2015: Auto Rifles just received a -2.5% nerf to base damage (and have a reduced effective range).
Mar. 20, 2015: Hard Light's Stability was...ninja-nerfed recently? Down to 60 from 69. It appears SUROS Regime has received the same treatment, its Stability dragged down to 68 from 82.