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

Hurco Companies, Inc. (NASDAQ:HURC)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.28 and traded as high as $17.20. Hurco Companies shares last traded at $17.12, with a volume of 13,735 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Hurco Companies from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Hurco Companies in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hurco Companies presently has a consensus rating of “Sell”.

Hurco Companies Stock Performance

The firm’s 50-day moving average price is $16.45 and its two-hundred day moving average price is $16.32. The firm has a market capitalization of $136.20 million, a price-to-earnings ratio of -9.56 and a beta of 0.75.

Hurco Companies (NASDAQ:HURC) last issued its earnings results on Friday, June 5th. The scientific and technical instruments company reported ($0.37) earnings per share for the quarter. Hurco Companies had a negative net margin of 8.15% and a negative return on equity of 7.13%. The business had revenue of $47.62 million for the quarter.

Institutional Trading of Hurco Companies

Several institutional investors have recently made changes to their positions in HURC. Ameriprise Financial Inc. lifted its holdings in Hurco Companies by 0.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after purchasing an additional 1,733 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Hurco Companies by 23.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 70,321 shares of the scientific and technical instruments company’s stock valued at $1,086,000 after purchasing an additional 13,296 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Hurco Companies during the 3rd quarter valued at about $322,000. Brooklands Fund Management Ltd lifted its holdings in Hurco Companies by 9.3% during the 4th 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 purchasing an additional 26,000 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Hurco Companies by 180.3% during the 4th quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock valued at $1,163,000 after purchasing an additional 48,397 shares during the last quarter. 74.36% of the stock is currently owned by institutional investors and hedge funds.

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.