Hurco Companies (NASDAQ:HURC) Shares Cross Above 200-Day Moving Average – Here’s Why

Hurco Companies, Inc. (NASDAQ:HURC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.28 and traded as high as $17.20. Hurco Companies shares last traded at $17.12, with a volume of 13,735 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Hurco Companies from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Hurco Companies Stock Performance

The company has a market capitalization of $110.42 million, a PE ratio of -7.75 and a beta of 0.75. The company has a 50 day moving average price of $16.33 and a 200 day moving average price of $16.28.

Hurco Companies (NASDAQ:HURC) last released its earnings results on Friday, March 6th. The scientific and technical instruments company reported ($0.54) EPS for the quarter. The business had revenue of $42.87 million for 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

Institutional investors and hedge funds have recently made changes to their positions in the business. Diamond Hill Capital Management Inc. purchased a new position in shares of Hurco Companies during the 3rd quarter valued at approximately $992,000. Ameriprise Financial Inc. boosted its stake in shares of Hurco Companies by 0.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after buying an additional 1,733 shares during the last quarter. Marshall Wace LLP boosted its stake 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 during the last quarter. Brooklands Fund Management Ltd boosted its stake in shares of Hurco Companies by 15.8% during the 1st quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company’s stock valued at $5,208,000 after buying an additional 48,377 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Hurco Companies during the 3rd quarter valued at approximately $322,000. 74.36% of the stock is currently owned by hedge funds and other institutional investors.

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.