Hurco Companies (NASDAQ:HURC) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Hurco Companies, Inc. (NASDAQ:HURC)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $18.81 and traded as high as $19.07. Hurco Companies shares last traded at $18.75, with a volume of 7,017 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Hurco Companies from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

Hurco Companies Stock Down 0.8 %

The stock has a market cap of $120.94 million, a P/E ratio of -9.52 and a beta of 0.40. The firm’s 50-day moving average is $21.18 and its two-hundred day moving average is $18.81.

Insider Buying and Selling

In other 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 stock was sold at an average price of $22.50, for a total transaction of $546,750.00. Following the completion of the transaction, the insider now directly owns 806,943 shares in the company, valued at $18,156,217.50. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation increased its position in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 27.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,555 shares of the scientific and technical instruments company’s stock after buying an additional 5,314 shares during the quarter. Hurco Companies accounts for 0.1% of George Kaiser Family Foundation’s portfolio, making the stock its 17th biggest holding. George Kaiser Family Foundation owned approximately 0.38% of Hurco Companies worth $517,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 74.36% of the company’s stock.

Hurco Companies Company Profile

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.