Short Interest in Hurco Companies, Inc. (NASDAQ:HURC) Decreases By 64.1%

Hurco Companies, Inc. (NASDAQ:HURC) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 40,340 shares, a decline of 64.1% from the August 15th total of 112,502 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 21,277 shares, the days-to-cover ratio is currently 1.9 days.

Hurco Companies Stock Down 3.5%

Shares of Hurco Companies stock traded down $0.80 on Friday, hitting $21.79. The stock had a trading volume of 5,728 shares, compared to its average volume of 26,271. Hurco Companies has a one year low of $14.50 and a one year high of $24.49. The stock has a market cap of $141.20 million, a price-to-earnings ratio of -21.16 and a beta of 0.70. The stock’s 50-day simple moving average is $22.10 and its two-hundred day simple moving average is $19.14.

Hurco Companies (NASDAQ:HURC) last issued its earnings results on Friday, September 4th. The scientific and technical instruments company reported $0.35 EPS for the quarter. Hurco Companies had a negative net margin of 3.58% and a negative return on equity of 3.37%. The company had revenue of $47.29 million for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. State of Wyoming bought a new position in Hurco Companies during the 2nd quarter valued at approximately $199,000. Susquehanna International Group LLP bought a new stake in shares of Hurco Companies in the 2nd quarter worth approximately $202,000. Hsbc Holdings PLC purchased a new position in shares of Hurco Companies during the second quarter valued at approximately $357,000. GSA Capital Partners LLP purchased a new position in shares of Hurco Companies during the second quarter valued at approximately $499,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Hurco Companies during the second quarter valued at approximately $511,000. Hedge funds and other institutional investors own 74.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a report on Friday, July 17th. Wall Street Zen raised shares of Hurco Companies from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Hurco Companies currently has a consensus rating of “Sell”.

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.