Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Update

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 85,518 shares, an increase of 190.4% from the December 31st total of 29,446 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average trading volume of 38,094 shares, the short-interest ratio is presently 2.2 days. Based on an average trading volume of 38,094 shares, the short-interest ratio is presently 2.2 days. Approximately 1.5% of the company’s shares are sold short.

Institutional Investors Weigh In On Hurco Companies

Hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. bought a new position in shares of Hurco Companies during the third quarter valued at $322,000. Diamond Hill Capital Management Inc. purchased a new position in Hurco Companies in the third quarter worth about $992,000. George Kaiser Family Foundation lifted its stake in shares of Hurco Companies by 57.3% in the second quarter. George Kaiser Family Foundation now owns 44,968 shares of the scientific and technical instruments company’s stock worth $850,000 after buying an additional 16,377 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Hurco Companies by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after buying an additional 1,733 shares during the last quarter. 74.36% of the stock is owned by institutional investors.

Hurco Companies Price Performance

NASDAQ:HURC opened at $16.54 on Friday. The firm’s 50-day moving average price is $16.02 and its 200-day moving average price is $17.23. The company has a market capitalization of $109.49 million, a PE ratio of -7.07 and a beta of 0.65. Hurco Companies has a 1-year low of $13.19 and a 1-year high of $23.45.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HURC. Wall Street Zen cut shares of Hurco Companies from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Hurco Companies presently has a consensus rating of “Sell”.

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.