Hurco Companies (NASDAQ:HURC) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of Hurco Companies (NASDAQ:HURC) from a hold rating to a sell rating in a report published on Wednesday.

Hurco Companies Stock Down 1.0 %

Shares of Hurco Companies stock opened at $22.66 on Wednesday. Hurco Companies has a 12 month low of $14.82 and a 12 month high of $28.20. The business has a fifty day simple moving average of $20.63 and a 200 day simple moving average of $18.27. The stock has a market cap of $146.16 million, a PE ratio of -11.50 and a beta of 0.38.

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

Insider Activity

In other news, major shareholder Polar Asset Management Partner sold 24,300 shares of Hurco Companies stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $22.50, for a total transaction of $546,750.00. Following the transaction, the insider now owns 806,943 shares in the company, valued at $18,156,217.50. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hurco Companies stock. George Kaiser Family Foundation bought a new position in Hurco Companies, Inc. (NASDAQ:HURC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies accounts for 0.1% of George Kaiser Family Foundation’s investment portfolio, making the stock its 17th largest holding. George Kaiser Family Foundation owned approximately 0.30% of Hurco Companies as of its most recent filing with the Securities and Exchange Commission. 74.36% of the stock is owned by institutional investors.

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.