Hurco Companies (NASDAQ:HURC) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Hurco Companies, Inc. (NASDAQ:HURC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.39 and traded as high as $17.51. Hurco Companies shares last traded at $17.23, with a volume of 29,708 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HURC shares. Wall Street Zen upgraded Hurco Companies from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hurco Companies in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Hurco Companies Stock Up 2.8%

The firm has a market cap of $111.13 million, a PE ratio of -7.80 and a beta of 0.75. The firm has a 50-day moving average price of $15.97 and a two-hundred day moving average price of $16.38.

Hurco Companies (NASDAQ:HURC) last released its earnings results on Friday, March 6th. The scientific and technical instruments company reported ($0.54) earnings per share for the quarter. The firm had revenue of $42.87 million during the quarter. Hurco Companies had a negative net margin of 8.15% and a negative return on equity of 7.13%.

Hedge Funds Weigh In On Hurco Companies

Several hedge funds and other institutional investors have recently made changes to their positions in HURC. Hillsdale Investment Management Inc. purchased a new position in shares of Hurco Companies in the third quarter valued at approximately $322,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Hurco Companies in the third quarter valued at approximately $992,000. Marshall Wace LLP lifted its position in shares of Hurco Companies by 180.3% in the fourth quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock valued at $1,163,000 after acquiring an additional 48,397 shares in the last quarter. Brooklands Fund Management Ltd lifted its position in shares of Hurco Companies by 9.3% in the fourth 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 acquiring an additional 26,000 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Hurco Companies by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after acquiring an additional 1,733 shares in the last quarter. Hedge funds and other institutional investors own 74.36% of the company’s stock.

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.