Hurco Companies, Inc. (NASDAQ:HURC) Sees Large Increase in Short Interest

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 34,085 shares, an increase of 259.2% from the September 30th total of 9,489 shares. Based on an average daily volume of 19,143 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.6% of the company’s stock are sold short.

Institutional Trading of Hurco Companies

Large investors have recently modified their holdings of the business. State of Wyoming acquired a new position in shares of Hurco Companies in the 2nd quarter valued at approximately $199,000. Susquehanna International Group LLP acquired a new position in Hurco Companies in the second quarter valued at approximately $202,000. Hsbc Holdings PLC bought a new position in Hurco Companies during the 2nd quarter worth $357,000. GSA Capital Partners LLP acquired a new stake in shares of Hurco Companies in the 2nd quarter worth about $499,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Hurco Companies during the second quarter valued at approximately $511,000. 74.36% of the stock is currently owned by institutional investors and hedge funds.

Hurco Companies Stock Performance

HURC stock traded down $0.25 during trading on Friday, hitting $22.00. The stock had a trading volume of 642 shares, compared to its average volume of 26,780. The stock has a market cap of $142.56 million, a price-to-earnings ratio of -21.29 and a beta of 0.71. The company’s 50 day moving average price is $21.88 and its two-hundred day moving average price is $19.26. Hurco Companies has a 1-year low of $14.50 and a 1-year high of $24.49.

Hurco Companies (NASDAQ:HURC) last released its earnings results on Friday, September 4th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter. Hurco Companies had a negative return on equity of 3.37% and a negative net margin of 3.58%. The firm had revenue of $47.29 million for the quarter.

Analyst Ratings Changes

Several research analysts recently commented on HURC shares. Wall Street Zen raised Hurco Companies from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research report on Thursday, October 15th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Hurco Companies presently has a consensus rating of “Sell”.

Hurco Companies Company Profile

Hurco Companies, Inc designs and manufactures computerized machine tools used by manufacturers to produce precision metal components. Its product portfolio primarily includes computer numerical control (CNC) machining centers, turning centers and related equipment for milling, drilling, tapping and turning applications.

The company also develops CNC controls, software and computer-aided manufacturing products intended to simplify machine programming, improve productivity and support flexible, small-batch manufacturing.