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

Hurco Companies, Inc. (NASDAQ:HURC) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.78 and traded as high as $22.12. Hurco Companies shares last traded at $22.03, with a volume of 36,503 shares traded.

Wall Street Analyst Weigh In

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

Hurco Companies Trading Down 0.3%

The stock’s 50 day moving average is $18.01 and its 200 day moving average is $16.78. The stock has a market capitalization of $142.75 million, a price-to-earnings ratio of -11.24 and a beta of 0.75.

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. 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 Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. 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 valued at $5,056,000 after buying an additional 26,000 shares in the last quarter. Marshall Wace LLP grew its holdings 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 valued at $1,163,000 after buying an additional 48,397 shares during the last quarter. Ameriprise Financial Inc. increased its position in Hurco Companies by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock worth $6,082,000 after buying 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 fourth 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 buying an additional 13,296 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Hurco Companies in the third quarter worth $322,000. 74.36% of the stock is currently owned by institutional investors and hedge funds.

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.