Hurco Companies (NASDAQ:HURC) Announces Earnings Results

Hurco Companies (NASDAQ:HURC) released its quarterly earnings data on Friday. The scientific and technical instruments company reported $0.35 EPS for the quarter, Zacks reports. Hurco Companies had a negative net margin of 6.92% and a negative return on equity of 6.37%. The business had revenue of $47.29 million during the quarter.

Hurco Companies Stock Performance

NASDAQ:HURC opened at $22.99 on Friday. The firm has a market capitalization of $148.88 million, a PE ratio of -22.32 and a beta of 0.70. The stock’s fifty day moving average is $22.11 and its 200 day moving average is $18.96. Hurco Companies has a fifty-two week low of $14.50 and a fifty-two week high of $24.49.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Hurco Companies stock. Ameriprise Financial Inc. grew its position in Hurco Companies, Inc. (NASDAQ:HURC) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 321,811 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,733 shares during the quarter. Ameriprise Financial Inc. owned about 4.94% of Hurco Companies worth $6,082,000 at the end of the most recent reporting period. 74.36% of the stock is owned by hedge funds and other institutional investors.

Hurco Companies Company Profile

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.