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

Hurco Companies, Inc. (NASDAQ:HURC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.41 and traded as high as $22.96. Hurco Companies shares last traded at $22.76, with a volume of 53,643 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Hurco Companies in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Hurco Companies Trading Up 2.5%

The company’s 50-day moving average is $19.58 and its two-hundred day moving average is $17.46. The stock has a market capitalization of $151.11 million, a P/E ratio of -11.90 and a beta of 0.69.

Hurco Companies (NASDAQ:HURC) last posted its earnings results on Friday, June 5th. The scientific and technical instruments company reported ($0.37) EPS for the quarter. Hurco Companies had a negative return on equity of 6.37% and a negative net margin of 6.92%.The firm had revenue of $47.62 million during the quarter.

Hedge Funds Weigh In On Hurco Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HURC. Diamond Hill Capital Management Inc. raised its stake in Hurco Companies by 23.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 70,321 shares of the scientific and technical instruments company’s stock valued at $1,086,000 after acquiring an additional 13,296 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Hurco Companies by 180.3% in the fourth quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock worth $1,163,000 after purchasing an additional 48,397 shares in the last quarter. Brooklands Fund Management Ltd grew its stake in shares of Hurco Companies by 9.3% in the fourth quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock worth $5,056,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Hurco Companies by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after purchasing an additional 1,733 shares during the period. 74.36% of the stock is owned by institutional investors.

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.