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

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

Institutional Trading of Hurco Companies

Several large investors have recently bought and sold shares of HURC. Susquehanna International Group LLP purchased a new position in Hurco Companies during the second quarter worth $202,000. Empowered Funds LLC acquired a new stake in shares of Hurco Companies during the second quarter valued at $569,000. Meros Investment Management LP acquired a new stake in shares of Hurco Companies during the second quarter valued at $4,838,126. Hsbc Holdings PLC purchased a new stake in Hurco Companies during the 2nd quarter worth about $357,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hurco Companies during the 2nd quarter worth about $511,000. Institutional investors and hedge funds own 74.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HURC. Wall Street Zen upgraded shares of Hurco Companies from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Hurco Companies in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hurco Companies presently has an average rating of “Sell”.

Hurco Companies Stock Performance

Shares of NASDAQ HURC opened at $22.58 on Tuesday. The firm has a market capitalization of $146.32 million, a PE ratio of -21.92 and a beta of 0.70. Hurco Companies has a fifty-two week low of $14.50 and a fifty-two week high of $24.49. The stock’s 50-day simple moving average is $22.11 and its 200-day simple moving average is $19.19.

Hurco Companies (NASDAQ:HURC) last released its quarterly earnings results on Friday, September 4th. The scientific and technical instruments company reported $0.35 EPS for the quarter. The company had revenue of $47.29 million for the quarter. Hurco Companies had a negative return on equity of 3.37% and a negative net margin of 3.58%.

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.