Hurco Companies, Inc. (NASDAQ:HURC) Shares Shorted: Short Interest Down 74.5% in September

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 9,489 shares, a decrease of 74.5% from the September 15th total of 37,282 shares. Based on an average trading volume of 16,958 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.2% of the shares of the stock are short sold.

Hurco Companies Stock Performance

Shares of NASDAQ:HURC traded up $0.24 during midday trading on Monday, reaching $21.24. 24,837 shares of the company’s stock traded hands, compared to its average volume of 27,249. The company has a fifty day simple moving average of $22.15 and a two-hundred day simple moving average of $19.99. Hurco Companies has a 1 year low of $14.50 and a 1 year high of $24.49. The company has a market cap of $137.64 million, a P/E ratio of -20.62 and a beta of 0.71.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Hurco Companies in a research note on Friday, July 17th. Wall Street Zen upgraded Hurco Companies from a “hold” rating to a “buy” rating in a research report on Saturday, September 12th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has an average rating of “Sell”.

Institutional Trading of Hurco Companies

Several institutional investors have recently modified their holdings of HURC. Susquehanna International Group LLP purchased a new stake in shares of Hurco Companies during the second quarter worth about $202,000. Empowered Funds LLC purchased a new position in Hurco Companies in the 2nd quarter valued at about $569,000. Meros Investment Management LP purchased a new position in Hurco Companies in the 2nd quarter valued at about $4,838,126. Hsbc Holdings PLC acquired a new stake in Hurco Companies in the 2nd quarter worth about $357,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Hurco Companies in the 2nd quarter worth about $511,000. Institutional investors and hedge funds own 74.36% of the company’s stock.

About Hurco Companies

Hurco Companies, Inc is an industrial technology company that designs, manufactures, and sells computerized machine tools and related software. Its products are used by manufacturers for precision metalworking, including the production of components for the aerospace, automotive, medical, energy, and general industrial sectors.

The company’s product portfolio includes computer numerical control (CNC) machining centers, turning centers, and other machine tools, along with integrated CNC controls and manufacturing software.