Hurco Companies (NASDAQ:HURC) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Hurco Companies, Inc. (NASDAQ:HURC)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.26 and traded as high as $17.16. Hurco Companies shares last traded at $16.85, with a volume of 20,909 shares traded.

Wall Street Analyst Weigh In

HURC has been the topic of several recent research reports. Wall Street Zen upgraded Hurco Companies from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Hurco Companies Price Performance

The company has a market cap of $110.75 million, a PE ratio of -7.77 and a beta of 0.75. The company has a 50-day moving average of $16.11 and a 200 day moving average of $16.27.

Hurco Companies (NASDAQ:HURC) last announced its earnings results on Friday, March 6th. The scientific and technical instruments company reported ($0.54) earnings per share (EPS) for the quarter. Hurco Companies had a negative net margin of 8.15% and a negative return on equity of 7.13%. The business had revenue of $42.87 million for the quarter.

Hedge Funds Weigh In On Hurco Companies

Several institutional investors and hedge funds have recently bought and sold shares of HURC. Diamond Hill Capital Management Inc. purchased a new position in Hurco Companies in the third quarter worth $992,000. Marshall Wace LLP grew its holdings in shares of Hurco Companies by 180.3% during the fourth quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock valued at $1,163,000 after buying an additional 48,397 shares during the last quarter. Brooklands Fund Management Ltd grew its holdings in shares of Hurco Companies by 15.8% during the first quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company’s stock valued at $5,208,000 after buying an additional 48,377 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Hurco Companies during the third quarter valued at $322,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Hurco Companies by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after buying an additional 1,733 shares during the last quarter. 74.36% of the stock is owned by hedge funds and other institutional investors.

Hurco Companies Company Profile

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.