Hurco Companies (NASDAQ:HURC) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Hurco Companies, Inc. (NASDAQ:HURC)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.49 and traded as high as $21.80. Hurco Companies shares last traded at $21.60, with a volume of 34,968 shares.

Analyst Ratings Changes

Several analysts have recently weighed in on HURC shares. Wall Street Zen upgraded shares of Hurco Companies from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings restated 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 MarketBeat, the company currently has a consensus rating of “Sell”.

Hurco Companies Stock Performance

The firm’s 50-day moving average is $17.11 and its 200 day moving average is $16.49. The stock has a market cap of $139.97 million, a PE ratio of -11.02 and a beta of 0.75.

Hurco Companies (NASDAQ:HURC) last announced its quarterly earnings data on Friday, June 5th. The scientific and technical instruments company reported ($0.37) earnings per share (EPS) for the quarter. The firm had revenue of $47.62 million during the quarter. Hurco Companies had a negative net margin of 6.92% and a negative return on equity of 6.37%.

Hedge Funds Weigh In On Hurco Companies

Several institutional investors have recently bought and sold shares of HURC. Brooklands Fund Management Ltd grew its stake in shares of Hurco Companies by 15.8% during the 1st quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company’s stock worth $5,208,000 after purchasing an additional 48,377 shares during the period. Ameriprise Financial Inc. grew its stake 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 worth $6,082,000 after purchasing an additional 1,733 shares during the period. Marshall Wace LLP grew its stake in shares of Hurco Companies by 180.3% during the 4th quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock worth $1,163,000 after purchasing an additional 48,397 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of 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 during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Hurco Companies during the 3rd quarter worth $322,000. 74.36% of the stock is 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.