Hurco Companies (NASDAQ:HURC) Shares Pass Above 200-Day Moving Average – Here’s Why

Shares of Hurco Companies, Inc. (NASDAQ:HURC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.49 and traded as high as $21.80. Hurco Companies shares last traded at $21.60, with a volume of 34,968 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HURC shares. Wall Street Zen raised shares of Hurco Companies from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Hurco Companies in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hurco Companies presently has an average rating of “Sell”.

Hurco Companies Price Performance

The company has a market cap of $139.97 million, a P/E ratio of -11.02 and a beta of 0.75. The firm’s 50-day moving average is $17.11 and its two-hundred day moving average is $16.49.

Hurco Companies (NASDAQ:HURC) last released its quarterly earnings data on Friday, June 5th. The scientific and technical instruments company reported ($0.37) EPS for the quarter. Hurco Companies had a negative net margin of 6.92% and a negative return on equity of 6.37%. The business had revenue of $47.62 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklands Fund Management Ltd increased its stake in Hurco Companies by 15.8% during the first quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company’s stock worth $5,208,000 after acquiring an additional 48,377 shares during the last quarter. Ameriprise Financial Inc. boosted 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 period. Marshall Wace LLP boosted 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 period. Diamond Hill Capital Management Inc. increased its position in shares of Hurco Companies by 23.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 70,321 shares of the scientific and technical instruments company’s stock valued at $1,086,000 after purchasing an additional 13,296 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Hurco Companies during the 3rd quarter valued at approximately $322,000. Hedge funds and other institutional investors own 74.36% of the company’s stock.

About Hurco Companies

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.