Hurco Companies (NASDAQ:HURC) Shares Cross Above 200-Day Moving Average – Here’s Why

Hurco Companies, Inc. (NASDAQ:HURC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.28 and traded as high as $17.20. Hurco Companies shares last traded at $17.12, with a volume of 13,735 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on HURC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Hurco Companies from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hurco Companies Trading Up 3.0%

The stock’s 50-day moving average is $16.33 and its 200-day moving average is $16.28. The stock has a market cap of $110.42 million, a price-to-earnings ratio of -7.75 and a beta of 0.75.

Hurco Companies (NASDAQ:HURC) last posted its earnings results on Friday, March 6th. The scientific and technical instruments company reported ($0.54) earnings per share (EPS) for the quarter. The business had revenue of $42.87 million for the quarter. Hurco Companies had a negative return on equity of 7.13% and a negative net margin of 8.15%.

Institutional Trading of Hurco Companies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its position in 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 worth $6,082,000 after purchasing an additional 1,733 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in Hurco Companies by 23.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 70,321 shares of the scientific and technical instruments company’s stock worth $1,086,000 after purchasing an additional 13,296 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Hurco Companies during the 3rd quarter worth approximately $322,000. Brooklands Fund Management Ltd grew its position in Hurco Companies by 9.3% in the fourth quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock valued at $5,056,000 after acquiring an additional 26,000 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Hurco Companies by 180.3% in the fourth quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock valued at $1,163,000 after acquiring an additional 48,397 shares in the last quarter. Institutional investors and hedge funds own 74.36% of the company’s stock.

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.