Hurco Companies (NASDAQ:HURC) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Hurco Companies, Inc. (NASDAQ:HURC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.11 and traded as high as $23.49. Hurco Companies shares last traded at $22.30, with a volume of 50,739 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hurco Companies in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Hurco Companies Stock Down 2.6%

The company’s fifty day moving average is $18.76 and its 200 day moving average is $17.11. The stock has a market cap of $144.50 million, a PE ratio of -11.38 and a beta of 0.68.

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

Institutional Trading of Hurco Companies

A number of institutional investors have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. raised its position in Hurco Companies by 23.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 70,321 shares of the scientific and technical instruments company’s stock valued at $1,086,000 after purchasing an additional 13,296 shares during the period. Marshall Wace LLP boosted its position in shares of 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 worth $1,163,000 after buying an additional 48,397 shares during the period. Brooklands Fund Management Ltd grew its stake in shares of 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 buying an additional 26,000 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Hurco Companies by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after buying an additional 1,733 shares in the last quarter. 74.36% of the stock is owned by hedge funds and other institutional investors.

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.