Hurco Companies (NASDAQ:HURC) Shares Pass Above 200 Day Moving Average – What’s Next?

Hurco Companies, Inc. (NASDAQ:HURC)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.95 and traded as high as $17.90. Hurco Companies shares last traded at $17.45, with a volume of 14,816 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hurco Companies in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Hurco Companies from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Hurco Companies Trading Up 0.6%

The firm’s 50 day simple moving average is $16.92 and its 200 day simple moving average is $16.94. The firm has a market cap of $115.19 million, a PE ratio of -7.44 and a beta of 0.63.

Hurco Companies (NASDAQ:HURC) last posted its earnings results on Friday, January 9th. The scientific and technical instruments company reported ($0.47) EPS for the quarter. The firm had revenue of $45.47 million during the quarter. Hurco Companies had a negative return on equity of 7.53% and a negative net margin of 8.47%.

Institutional Investors Weigh In On Hurco Companies

Several large investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. purchased a new stake in Hurco Companies during the third quarter valued at $322,000. George Kaiser Family Foundation increased its holdings in shares of Hurco Companies by 57.3% in the 2nd quarter. George Kaiser Family Foundation now owns 44,968 shares of the scientific and technical instruments company’s stock worth $850,000 after buying an additional 16,377 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Hurco Companies during the 3rd quarter valued at about $992,000. Marshall Wace LLP raised its position in shares of 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 in the last quarter. Finally, Brooklands Fund Management Ltd lifted its holdings in shares of 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 acquiring an additional 26,000 shares during the last quarter. Institutional investors own 74.36% of the company’s stock.

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.