Hurco Companies, Inc. (NASDAQ:HURC) Sees Large Growth in Short Interest

Hurco Companies, Inc. (NASDAQ:HURC) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 34,085 shares, a growth of 259.2% from the September 30th total of 9,489 shares. Based on an average daily volume of 19,143 shares, the short-interest ratio is presently 1.8 days. Approximately 0.6% of the shares of the stock are sold short.

Hurco Companies Price Performance

Hurco Companies stock traded up $0.52 during trading hours on Thursday, hitting $22.25. The stock had a trading volume of 22,732 shares, compared to its average volume of 26,906. The stock has a market capitalization of $144.09 million, a price-to-earnings ratio of -21.60 and a beta of 0.71. Hurco Companies has a 1-year low of $14.50 and a 1-year high of $24.49. The stock’s fifty day moving average is $21.89 and its two-hundred day moving average is $19.23.

Hurco Companies (NASDAQ:HURC) last released its quarterly earnings results on Friday, September 4th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter. The business had revenue of $47.29 million during the quarter. Hurco Companies had a negative return on equity of 3.37% and a negative net margin of 3.58%.

Institutional Trading of Hurco Companies

Institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming acquired a new stake in Hurco Companies during the 2nd quarter valued at $199,000. Susquehanna International Group LLP acquired a new position in shares of Hurco Companies in the second quarter worth $202,000. Hsbc Holdings PLC purchased a new stake in shares of Hurco Companies in the second quarter valued at $357,000. GSA Capital Partners LLP purchased a new stake in shares of Hurco Companies in the second quarter valued at $499,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Hurco Companies in the second quarter valued at $511,000. Hedge funds and other institutional investors own 74.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HURC shares. Wall Street Zen raised shares of Hurco Companies from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Hurco Companies currently has a consensus rating of “Sell”.

Hurco Companies Company Profile

Hurco Companies, Inc designs and manufactures computerized machine tools used by manufacturers to produce precision metal components. Its product portfolio primarily includes computer numerical control (CNC) machining centers, turning centers and related equipment for milling, drilling, tapping and turning applications.

The company also develops CNC controls, software and computer-aided manufacturing products intended to simplify machine programming, improve productivity and support flexible, small-batch manufacturing.