Hurco Companies, Inc. (NASDAQ:HURC) Sees Large Growth in Short Interest

Hurco Companies, Inc. (NASDAQ:HURC) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 35,300 shares, an increase of 39.0% from the January 15th total of 25,400 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 17,700 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Hurco Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th.

Hurco Companies Price Performance

NASDAQ:HURC traded up $0.19 during trading hours on Friday, hitting $22.50. 46,057 shares of the company’s stock traded hands, compared to its average volume of 16,784. Hurco Companies has a 52 week low of $14.82 and a 52 week high of $28.20. The business’s fifty day simple moving average is $20.23 and its two-hundred day simple moving average is $19.86.

Hurco Companies (NASDAQ:HURC) last issued its quarterly earnings results on Friday, January 10th. The scientific and technical instruments company reported ($0.23) earnings per share (EPS) for the quarter. Hurco Companies had a negative net margin of 8.90% and a negative return on equity of 7.78%.

Hedge Funds Weigh In On Hurco Companies

An institutional investor recently raised its position in Hurco Companies stock. Pacific Ridge Capital Partners LLC boosted its position in Hurco Companies, Inc. (NASDAQ:HURC) by 38.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,958 shares of the scientific and technical instruments company’s stock after acquiring an additional 52,667 shares during the quarter. Pacific Ridge Capital Partners LLC owned 2.85% of Hurco Companies worth $3,645,000 as of its most recent filing with the Securities & Exchange Commission. 74.36% of the stock is owned by 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.