Hurco Companies, Inc. (NASDAQ:HURC) Sees Significant Drop in Short Interest

Hurco Companies, Inc. (NASDAQ:HURC) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 22,900 shares, a decrease of 17.9% from the February 28th total of 27,900 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,400 shares, the short-interest ratio is presently 1.2 days.

Analysts Set New Price Targets

Separately, StockNews.com raised Hurco Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th.

Hurco Companies Trading Up 0.1 %

NASDAQ:HURC opened at $15.52 on Thursday. The company has a 50-day moving average of $18.87 and a 200-day moving average of $19.92. The firm has a market cap of $100.63 million, a price-to-earnings ratio of -6.06 and a beta of 0.42. Hurco Companies has a twelve month low of $14.83 and a twelve month high of $23.76.

Hurco Companies (NASDAQ:HURC) last posted its quarterly earnings results on Friday, March 7th. The scientific and technical instruments company reported ($0.67) earnings per share (EPS) for the quarter. Hurco Companies had a negative return on equity of 7.78% and a negative net margin of 8.90%. The business had revenue of $46.41 million during the quarter.

Insider Activity at Hurco Companies

In other Hurco Companies news, major shareholder Polar Asset Management Partner sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $15.50, for a total value of $46,500.00. Following the completion of the sale, the insider now directly owns 766,582 shares in the company, valued at $11,882,021. This represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 16,905 shares of company stock worth $319,226 in the last 90 days. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. Pacific Ridge Capital Partners LLC raised its position in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 38.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,958 shares of the scientific and technical instruments company’s stock after buying an additional 52,667 shares during the quarter. Pacific Ridge Capital Partners LLC owned 2.85% of Hurco Companies worth $3,645,000 at the end of the most recent quarter. 74.36% of the stock is currently owned by hedge funds and other institutional investors.

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.