Hurco Companies (NASDAQ:HURC) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Hurco Companies, Inc. (NASDAQ:HURC)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.54 and traded as low as $15.02. Hurco Companies shares last traded at $15.50, with a volume of 15,247 shares traded.

Analysts Set New Price Targets

HURC has been the topic of a number of research analyst reports. Wall Street Zen raised Hurco Companies from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Hurco Companies presently has an average rating of “Sell”.

Hurco Companies Trading Up 2.3%

The firm has a market capitalization of $99.39 million, a price-to-earnings ratio of -6.97 and a beta of 0.67. The firm has a 50 day moving average price of $16.24 and a two-hundred day moving average price of $16.51.

Hurco Companies (NASDAQ:HURC) last released its quarterly earnings data on Friday, March 6th. The scientific and technical instruments company reported ($0.54) earnings per share for the quarter. The firm had revenue of $42.87 million during the quarter. Hurco Companies had a negative net margin of 8.15% and a negative return on equity of 7.13%.

Hedge Funds Weigh In On Hurco Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. acquired a new position in Hurco Companies during the 3rd quarter worth approximately $322,000. George Kaiser Family Foundation lifted its position in Hurco Companies by 57.3% during 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 acquiring an additional 16,377 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in Hurco Companies during the 3rd quarter worth approximately $992,000. Marshall Wace LLP lifted its position 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 worth $1,163,000 after acquiring an additional 48,397 shares in the last quarter. Finally, Brooklands Fund Management Ltd lifted its position in Hurco Companies by 9.3% during the 4th quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock worth $5,056,000 after acquiring an additional 26,000 shares in the last quarter. 74.36% of the stock is 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.