Short Interest in Hurco Companies, Inc. (NASDAQ:HURC) Rises By 190.4%

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 85,518 shares, a growth of 190.4% from the December 31st total of 29,446 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 38,094 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily trading volume, of 38,094 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen lowered shares of Hurco Companies from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Hurco Companies Stock Down 3.3%

NASDAQ HURC opened at $16.54 on Friday. Hurco Companies has a 52 week low of $13.19 and a 52 week high of $23.45. The company has a market capitalization of $109.49 million, a P/E ratio of -7.07 and a beta of 0.65. The stock’s 50-day moving average price is $16.02 and its 200-day moving average price is $17.23.

Hurco Companies (NASDAQ:HURC) last released its earnings results on Friday, January 9th. The scientific and technical instruments company reported ($0.47) earnings per share (EPS) for the quarter. The firm 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%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HURC. Hillsdale Investment Management Inc. bought a new stake in Hurco Companies during the third quarter valued at about $322,000. Diamond Hill Capital Management Inc. purchased a new stake in shares of Hurco Companies during the third quarter worth about $992,000. George Kaiser Family Foundation raised its stake in 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 purchasing an additional 16,377 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Hurco Companies by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock worth $6,082,000 after purchasing an additional 1,733 shares in the last quarter. 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.