Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Down 47.9% in March

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totalling 38,600 shares, a drop of 47.9% from the February 27th total of 74,100 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 38,200 shares, the days-to-cover ratio is currently 1.0 days.

A number of institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP lifted its stake in Hurco Companies by 2.6% in the 1st quarter. First Trust Advisors LP now owns 11,674 shares of the scientific and technical instruments company’s stock worth $471,000 after acquiring an additional 294 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Hurco Companies by 2.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 19,415 shares of the scientific and technical instruments company’s stock worth $745,000 after acquiring an additional 414 shares in the last quarter. Citigroup Inc. lifted its stake in Hurco Companies by 48.8% in the 4th quarter. Citigroup Inc. now owns 1,280 shares of the scientific and technical instruments company’s stock worth $49,000 after acquiring an additional 420 shares in the last quarter. Sei Investments Co. lifted its stake in Hurco Companies by 4.3% in the 4th quarter. Sei Investments Co. now owns 13,503 shares of the scientific and technical instruments company’s stock worth $518,000 after acquiring an additional 555 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Hurco Companies by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,907 shares of the scientific and technical instruments company’s stock worth $611,000 after acquiring an additional 862 shares in the last quarter. 78.68% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:HURC traded up $2.04 during midday trading on Thursday, reaching $28.95. The company had a trading volume of 43,200 shares, compared to its average volume of 32,802. Hurco Companies has a 1-year low of $20.39 and a 1-year high of $41.75. The firm has a market cap of $179.74 million, a price-to-earnings ratio of 19.97 and a beta of 1.01. The company has a fifty day simple moving average of $28.34 and a two-hundred day simple moving average of $32.82.

Hurco Companies (NASDAQ:HURC) last announced its quarterly earnings data on Friday, March 6th. The scientific and technical instruments company reported ($0.13) earnings per share (EPS) for the quarter. The business had revenue of $43.66 million during the quarter. Hurco Companies had a return on equity of 4.19% and a net margin of 4.27%.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Monday, March 30th will be paid a $0.13 dividend. This is an increase from Hurco Companies’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, March 27th.

A number of equities analysts recently weighed in on HURC shares. BidaskClub upgraded Hurco Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. TheStreet lowered Hurco Companies from a “b” rating to a “c+” rating in a research report on Friday, January 3rd. Finally, ValuEngine upgraded Hurco Companies from a “hold” rating to a “buy” rating in a research report on Saturday, February 29th.

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. The company offers general purpose computerized machine tools, such as vertical machining centers and turning centers. It also provides computer numerical control (CNC) machine tools; machine tools with computer control systems; and industry standard CNC controls, including Fanuc, Siemens, Mitsubishi, or Heidenhain.

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