Hurco Companies (NASDAQ:HURC) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Hurco Companies, Inc. (NASDAQ:HURC)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.90 and traded as high as $21.91. Hurco Companies shares last traded at $21.28, with a volume of 60,188 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Hurco Companies Trading Up 0.0%

The firm has a market cap of $147.78 million, a P/E ratio of -11.64 and a beta of 0.70. The business has a 50-day moving average price of $22.10 and a 200-day moving average price of $18.94.

Hurco Companies (NASDAQ:HURC) last released its quarterly earnings data 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 6.37% and a negative net margin of 6.92%.

Hedge Funds Weigh In On Hurco Companies

Hedge funds and other institutional investors have recently modified their holdings of the business. Brooklands Fund Management Ltd lifted its holdings in Hurco Companies by 15.8% during the first quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company’s stock worth $5,208,000 after buying an additional 48,377 shares during the period. Ameriprise Financial Inc. raised its position in shares of Hurco Companies by 0.5% in 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. Meros Investment Management LP bought a new position in shares of Hurco Companies in the 2nd quarter worth $4,838,126. BlackRock Inc. purchased a new stake in shares of Hurco Companies during the 2nd quarter worth $3,619,000. Finally, George Kaiser Family Foundation bought a new stake in Hurco Companies during the second quarter valued at about $1,846,000. 74.36% of the stock is currently owned by institutional investors.

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.