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

Hurco Companies, Inc. (NASDAQ:HURC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.71 and traded as high as $23.10. Hurco Companies shares last traded at $21.88, with a volume of 69,739 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hurco Companies has a consensus rating of “Sell”.

Hurco Companies Trading Down 4.4%

The stock has a market capitalization of $141.78 million, a PE ratio of -11.16 and a beta of 0.69. The firm’s 50-day simple moving average is $20.17 and its two-hundred day simple moving average is $17.71.

Hurco Companies (NASDAQ:HURC) last announced its earnings results 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 for the quarter. Hurco Companies had a negative net margin of 6.92% and a negative return on equity of 6.37%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Brooklands Fund Management Ltd lifted its stake in Hurco Companies by 9.3% in the 4th quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock worth $5,056,000 after acquiring an additional 26,000 shares in the last quarter. Marshall Wace LLP boosted its position in 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 acquiring an additional 48,397 shares during the period. Ameriprise Financial Inc. grew its stake 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 valued at $6,082,000 after acquiring an additional 1,733 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Hurco Companies by 23.3% in the 4th 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. 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.