Hurco Companies (NASDAQ:HURC) Shares Pass Above 200 Day Moving Average – Here’s Why

Hurco Companies, Inc. (NASDAQ:HURC)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.71 and traded as high as $23.10. Hurco Companies shares last traded at $21.88, with a volume of 69,739 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hurco Companies in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Hurco Companies Stock Down 4.4%

The firm has a market cap of $141.78 million, a price-to-earnings ratio of -11.16 and a beta of 0.69. The stock’s 50 day moving average is $20.17 and its 200 day moving average is $17.71.

Hurco Companies (NASDAQ:HURC) last released 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 return on equity of 6.37% and a negative net margin of 6.92%.The firm had revenue of $47.62 million during the quarter.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brooklands Fund Management Ltd boosted its stake in shares of 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 worth $5,056,000 after acquiring an additional 26,000 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Hurco Companies by 180.3% during 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 purchasing an additional 48,397 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Hurco Companies by 0.5% during 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 purchasing an additional 1,733 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Hurco Companies by 23.3% in 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 period. Institutional investors own 74.36% of the company’s stock.

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.