Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Down 64.1% in August

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 40,340 shares, a decrease of 64.1% from the August 15th total of 112,502 shares. Based on an average daily volume of 21,277 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.7% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HURC shares. Wall Street Zen raised shares of Hurco Companies from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Hurco Companies Stock Performance

Hurco Companies stock traded up $0.79 on Monday, reaching $22.58. The company’s stock had a trading volume of 58,689 shares, compared to its average volume of 28,293. The business’s fifty day moving average price is $22.10 and its 200 day moving average price is $19.15. The company has a market cap of $146.32 million, a price-to-earnings ratio of -21.92 and a beta of 0.70. Hurco Companies has a twelve month low of $14.50 and a twelve month high of $24.49.

Hurco Companies (NASDAQ:HURC) last announced 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 company had revenue of $47.29 million during the quarter.

Institutional Investors Weigh In On Hurco Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new position in shares of Hurco Companies in the second quarter worth about $202,000. Empowered Funds LLC bought a new stake in shares of Hurco Companies during the second quarter valued at approximately $569,000. Meros Investment Management LP acquired a new stake in shares of Hurco Companies in the second quarter valued at approximately $4,838,126. Hsbc Holdings PLC bought a new position in Hurco Companies in the 2nd quarter worth approximately $357,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Hurco Companies in the 2nd quarter worth approximately $511,000. Institutional investors and hedge funds 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.