Hurco Companies (NASDAQ:HURC) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Hurco Companies, Inc. (NASDAQ:HURC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.16 and traded as high as $17.33. Hurco Companies shares last traded at $16.97, with a volume of 4,458 shares.

Wall Street Analyst Weigh In

HURC has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Hurco Companies from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Hurco Companies Stock Down 2.0%

The company has a market capitalization of $112.34 million, a PE ratio of -7.25 and a beta of 0.66. The firm has a 50-day moving average of $16.06 and a two-hundred day moving average of $17.16.

Hurco Companies (NASDAQ:HURC) last issued its quarterly earnings data on Friday, January 9th. The scientific and technical instruments company reported ($0.47) EPS for the quarter. The firm had revenue of $45.47 million for the quarter. Hurco Companies had a negative return on equity of 7.53% and a negative net margin of 8.47%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in shares of Hurco Companies by 0.5% during 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 acquiring an additional 1,733 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Hurco Companies in the 3rd quarter valued at about $992,000. George Kaiser Family Foundation raised its holdings in Hurco Companies by 57.3% in the 2nd quarter. George Kaiser Family Foundation now owns 44,968 shares of the scientific and technical instruments company’s stock worth $850,000 after purchasing an additional 16,377 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in Hurco Companies in the 3rd quarter worth about $322,000. Hedge funds and other 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.