Hurco Companies (NASDAQ:HURC) Stock Passes Below 200 Day Moving Average – What’s Next?

Hurco Companies, Inc. (NASDAQ:HURC) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.48 and traded as low as $16.42. Hurco Companies shares last traded at $16.99, with a volume of 11,655 shares.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a report on Thursday, January 22nd. Wall Street Zen raised Hurco Companies from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Hurco Companies Price Performance

The company has a market cap of $109.52 million, a P/E ratio of -7.69 and a beta of 0.67. The company has a fifty day simple moving average of $16.20 and a 200-day simple moving average of $16.48.

Hurco Companies (NASDAQ:HURC) last posted its quarterly earnings results on Friday, March 6th. The scientific and technical instruments company reported ($0.54) earnings per share (EPS) for the quarter. The company had revenue of $42.87 million during the quarter. Hurco Companies had a negative net margin of 8.15% and a negative return on equity of 7.13%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HURC. Hillsdale Investment Management Inc. bought a new position in shares of Hurco Companies in the third quarter valued at $322,000. Diamond Hill Capital Management Inc. bought a new position in shares of Hurco Companies in the third quarter valued at $992,000. Marshall Wace LLP increased its holdings in shares of Hurco Companies by 180.3% in the fourth quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock valued at $1,163,000 after buying an additional 48,397 shares in the last quarter. Brooklands Fund Management Ltd increased its holdings in shares of Hurco Companies by 9.3% in the fourth quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock valued at $5,056,000 after buying an additional 26,000 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Hurco Companies by 0.5% in 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 in the last quarter. 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.