StockNews.com Downgrades Hurco Companies (NASDAQ:HURC) to Sell

Hurco Companies (NASDAQ:HURC) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Hurco Companies Trading Up 1.4 %

Shares of HURC opened at $21.40 on Wednesday. The company’s 50-day moving average price is $20.48 and its 200 day moving average price is $18.22. Hurco Companies has a 12-month low of $14.82 and a 12-month high of $28.20. The firm has a market cap of $138.03 million, a P/E ratio of -10.86 and a beta of 0.38.

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

Insiders Place Their Bets

In other Hurco Companies news, major shareholder Polar Asset Management Partner sold 24,300 shares of Hurco Companies stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $22.50, for a total value of $546,750.00. Following the completion of the transaction, the insider now directly owns 806,943 shares of the company’s stock, valued at $18,156,217.50. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Hurco Companies stock. George Kaiser Family Foundation bought a new position in shares of Hurco Companies, Inc. (NASDAQ:HURC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies makes up 0.1% of George Kaiser Family Foundation’s holdings, making the stock its 17th biggest position. George Kaiser Family Foundation owned 0.30% of Hurco Companies as of its most recent SEC filing. Institutional investors own 74.36% of the company’s stock.

About Hurco Companies

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.