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

Hurco Companies, Inc. (NASDAQ:HURC) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $20.25 and traded as high as $22.31. Hurco Companies shares last traded at $21.07, with a volume of 30,709 shares changing hands.

Analyst Ratings Changes

Several research firms have recently commented on HURC. Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a research report on Thursday, October 15th. Wall Street Zen upgraded shares of Hurco Companies from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hurco Companies Price Performance

The stock has a fifty day moving average price of $22.02 and a two-hundred day moving average price of $20.29. The company has a market cap of $138.54 million, a P/E ratio of -20.76 and a beta of 0.71.

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

Hedge Funds Weigh In On Hurco Companies

Hedge funds have recently bought and sold shares of the company. Brooklands Fund Management Ltd raised its holdings in shares of Hurco Companies by 15.8% in the first quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company’s stock valued at $5,208,000 after purchasing an additional 48,377 shares during the last quarter. Meros Investment Management LP purchased a new position in Hurco Companies during the second quarter worth about $4,838,126. BlackRock Inc. bought a new stake in Hurco Companies in the 2nd quarter worth about $3,619,000. George Kaiser Family Foundation bought a new stake in Hurco Companies in the 2nd quarter worth about $1,846,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Hurco Companies in the 2nd quarter valued at about $1,702,000. 74.36% of the stock is owned by hedge funds and other institutional investors.

About Hurco Companies

Hurco Companies, Inc is an industrial technology company that designs, manufactures, and sells computerized machine tools and related software. Its products are used by manufacturers for precision metalworking, including the production of components for the aerospace, automotive, medical, energy, and general industrial sectors.

The company’s product portfolio includes computer numerical control (CNC) machining centers, turning centers, and other machine tools, along with integrated CNC controls and manufacturing software.