Hurco Companies (NASDAQ:HURC) Announces Quarterly Earnings Results

Hurco Companies (NASDAQ:HURC) issued its earnings results on Friday. The scientific and technical instruments company reported ($0.37) earnings per share for the quarter, Zacks reports. Hurco Companies had a negative return on equity of 7.13% and a negative net margin of 8.15%.

Hurco Companies Trading Up 22.4%

NASDAQ HURC traded up $3.83 during trading on Friday, hitting $20.95. 38,170 shares of the company traded hands, compared to its average volume of 23,031. Hurco Companies has a 12 month low of $13.19 and a 12 month high of $21.91. The business has a fifty day simple moving average of $16.33 and a 200 day simple moving average of $16.28. The company has a market capitalization of $135.13 million, a P/E ratio of -9.41 and a beta of 0.75.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HURC shares. Wall Street Zen upgraded Hurco Companies from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hurco Companies has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hurco Companies stock. Marshall Wace LLP lifted its stake in Hurco Companies, Inc. (NASDAQ:HURC) by 180.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,246 shares of the scientific and technical instruments company’s stock after acquiring an additional 48,397 shares during the period. Marshall Wace LLP owned 1.14% of Hurco Companies worth $1,163,000 at the end of the most recent reporting period. 74.36% of the stock is currently owned by institutional investors and hedge funds.

About Hurco Companies

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.