Hurco Companies (NASDAQ:HURC) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Hurco Companies, Inc. (NASDAQ:HURC) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.27 and traded as low as $16.33. Hurco Companies shares last traded at $16.72, with a volume of 16,228 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HURC shares. Wall Street Zen cut shares of Hurco Companies from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a research note on Thursday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Hurco Companies has a consensus rating of “Sell”.

Hurco Companies Price Performance

The company has a market capitalization of $107.18 million, a P/E ratio of -7.15 and a beta of 0.65. The firm has a fifty day moving average price of $15.99 and a 200-day moving average price of $17.27.

Hurco Companies (NASDAQ:HURC) last posted its quarterly earnings data on Friday, January 9th. The scientific and technical instruments company reported ($0.47) earnings per share for the quarter. The business had revenue of $45.47 million during the quarter. Hurco Companies had a negative return on equity of 7.53% and a negative net margin of 8.47%.

Hedge Funds Weigh In On Hurco Companies

Several institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new stake in Hurco Companies during the third quarter worth about $322,000. Diamond Hill Capital Management Inc. purchased a new position in Hurco Companies in the third quarter valued at about $992,000. George Kaiser Family Foundation grew its position in shares of Hurco Companies by 57.3% during the 2nd quarter. George Kaiser Family Foundation now owns 44,968 shares of the scientific and technical instruments company’s stock valued at $850,000 after acquiring an additional 16,377 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Hurco Companies by 0.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after acquiring an additional 1,733 shares during the period. Institutional investors own 74.36% of the company’s stock.

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.