Hurco Companies (NASDAQ:HURC) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Hurco Companies (NASDAQ:HURC) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Hurco Companies Price Performance

Shares of HURC opened at $21.45 on Tuesday. Hurco Companies has a 1 year low of $14.82 and a 1 year high of $28.20. The company has a market capitalization of $138.35 million, a price-to-earnings ratio of -10.89 and a beta of 0.38. The business has a 50-day moving average of $20.32 and a 200-day moving average of $18.17.

Hurco Companies (NASDAQ:HURC) last issued its earnings results on Friday, September 6th. The scientific and technical instruments company reported ($1.47) earnings per share for the quarter. Hurco Companies had a negative return on equity of 5.87% and a negative net margin of 6.40%. The business had revenue of $42.65 million during the quarter.

Insider Activity at Hurco Companies

In other Hurco Companies news, major shareholder Polar Asset Management Partner sold 24,300 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $22.50, for a total value of $546,750.00. Following the sale, the insider now directly owns 806,943 shares in the company, valued at $18,156,217.50. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. Pacific Ridge Capital Partners LLC increased its stake in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 16.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,603 shares of the scientific and technical instruments company’s stock after acquiring an additional 31,026 shares during the quarter. Pacific Ridge Capital Partners LLC owned approximately 3.33% of Hurco Companies worth $4,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 74.36% of the company’s stock.

About Hurco Companies

Hurco Companies, Inc, an industrial technology company, designs, manufactures, and sells computerized machine tools to companies in the metal cutting industry worldwide. Its principal products include general-purpose computerized machine tools, including vertical and horizontal machining centers, turning centers, and toolroom machines.