StockNews.com Upgrades Hurco Companies (NASDAQ:HURC) to Hold

by · The Cerbat Gem

Hurco Companies (NASDAQ:HURC – Get Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Hurco Companies Price Performance

Shares of NASDAQ:HURC traded down $0.42 on Tuesday, reaching $21.76. The company’s stock had a trading volume of 12,496 shares, compared to its average volume of 22,937. The stock’s 50-day moving average is $20.00 and its two-hundred day moving average is $18.08. Hurco Companies has a 52-week low of $14.82 and a 52-week high of $28.20. The stock has a market capitalization of $140.35 million, a P/E ratio of -11.05 and a beta of 0.38.

Hurco Companies (NASDAQ:HURC – Get Free Report) last issued its quarterly earnings results on Friday, September 6th. The scientific and technical instruments company reported ($1.47) earnings per share (EPS) for the quarter. Hurco Companies had a negative return on equity of 5.87% and a negative net margin of 6.40%. The firm had revenue of $42.65 million for the quarter.

Insider Buying and Selling at Hurco Companies

In related news, major shareholder Polar Asset Management Partner sold 24,300 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $22.50, for a total transaction of $546,750.00. Following the transaction, the insider now owns 806,943 shares of the company’s stock, valued at approximately $18,156,217.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Hurco Companies

An institutional investor recently raised its position in Hurco Companies stock. Pacific Ridge Capital Partners LLC raised its stake in Hurco Companies, Inc. (NASDAQ:HURC – Free Report) by 16.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 216,603 shares of the scientific and technical instruments company’s stock after purchasing an additional 31,026 shares during the period. Pacific Ridge Capital Partners LLC owned 3.33% of Hurco Companies worth $4,367,000 as of its most recent SEC filing. Institutional investors and hedge funds own 74.36% of the company’s stock.

Hurco Companies Company Profile

(Get Free Report)

Hurco Companies, Inc, an industrial technology company, designs, manufactures, and sells computerized machine tools to companies in the metal cutting industry worldwide. Its principal products include general-purpose computerized machine tools, including vertical and horizontal machining centers, turning centers, and toolroom machines.

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