Hurco Companies (NASDAQ:HURC) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Hurco Companies, Inc. (NASDAQ:HURC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.27 and traded as high as $16.62. Hurco Companies shares last traded at $16.47, with a volume of 9,562 shares changing hands.

Wall Street Analyst Weigh In

HURC has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Hurco Companies in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Hurco Companies from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Hurco Companies Stock Performance

The business’s 50 day moving average price is $15.86 and its 200-day moving average price is $16.27. The company has a market cap of $106.23 million, a price-to-earnings ratio of -7.45 and a beta of 0.75.

Hurco Companies (NASDAQ:HURC) last posted its earnings results on Friday, March 6th. The scientific and technical instruments company reported ($0.54) earnings per share for the quarter. Hurco Companies had a negative return on equity of 7.13% and a negative net margin of 8.15%.The firm had revenue of $42.87 million during the quarter.

Institutional Investors Weigh In On Hurco Companies

Large investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. bought a new stake in shares of Hurco Companies in the 3rd quarter worth about $322,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Hurco Companies in the 3rd quarter worth about $992,000. Marshall Wace LLP grew its holdings in shares of Hurco Companies by 180.3% in the 4th quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock worth $1,163,000 after purchasing an additional 48,397 shares during the last quarter. Brooklands Fund Management Ltd grew its holdings in shares of Hurco Companies by 9.3% in the 4th quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock worth $5,056,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Hurco Companies by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock worth $6,082,000 after purchasing an additional 1,733 shares during the last quarter. Institutional investors own 74.36% of the company’s stock.

Hurco Companies Company Profile

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.