Hurco Companies, Inc. (NASDAQ:HURC) Sees Significant Drop in Short Interest

Hurco Companies, Inc. (NASDAQ:HURC) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 22,900 shares, a drop of 17.9% from the February 28th total of 27,900 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 18,400 shares, the short-interest ratio is presently 1.2 days.

Hurco Companies Price Performance

Shares of NASDAQ HURC opened at $15.52 on Thursday. The firm has a market capitalization of $100.63 million, a PE ratio of -6.06 and a beta of 0.42. Hurco Companies has a 1-year low of $14.83 and a 1-year high of $23.76. The business’s fifty day moving average price is $18.87 and its two-hundred day moving average price is $19.92.

Hurco Companies (NASDAQ:HURC) last released its quarterly earnings data on Friday, March 7th. The scientific and technical instruments company reported ($0.67) earnings per share for the quarter. The firm had revenue of $46.41 million during the quarter. Hurco Companies had a negative return on equity of 7.78% and a negative net margin of 8.90%.

Insiders Place Their Bets

In other Hurco Companies news, major shareholder Polar Asset Management Partner sold 4,510 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $22.63, for a total transaction of $102,061.30. Following the sale, the insider now directly owns 782,070 shares of the company’s stock, valued at approximately $17,698,244.10. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 16,905 shares of company stock valued at $319,226 in the last quarter. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Hurco Companies

An institutional investor recently raised its position in Hurco Companies stock. Pacific Ridge Capital Partners LLC boosted its holdings in Hurco Companies, Inc. (NASDAQ:HURC) by 38.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,958 shares of the scientific and technical instruments company’s stock after acquiring an additional 52,667 shares during the quarter. Pacific Ridge Capital Partners LLC owned 2.85% of Hurco Companies worth $3,645,000 at the end of the most recent quarter. 74.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Hurco Companies from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th.

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.