Hurco Companies (NASDAQ:HURC) Upgraded at StockNews.com

StockNews.com upgraded shares of Hurco Companies (NASDAQ:HURC) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Hurco Companies Trading Down 2.1 %

Shares of HURC stock traded down $0.46 on Tuesday, reaching $21.45. The company’s stock had a trading volume of 897 shares, compared to its average volume of 22,832. The stock’s fifty day simple moving average is $20.24 and its 200-day simple moving average is $18.15. Hurco Companies has a 1 year low of $14.82 and a 1 year high of $28.20.

Hurco Companies (NASDAQ:HURC) last posted its quarterly earnings data on Friday, September 6th. The scientific and technical instruments company reported ($1.47) EPS for the quarter. The firm had revenue of $42.65 million for the quarter. Hurco Companies had a negative return on equity of 5.87% and a negative net margin of 6.40%.

Insider Activity

In related news, major shareholder Polar Asset Management Partner sold 24,300 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $22.50, for a total transaction of $546,750.00. Following the completion of the sale, the insider now owns 806,943 shares of the company’s stock, valued at $18,156,217.50. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.20% of the company’s stock.

Institutional Trading of Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. Pacific Ridge Capital Partners LLC increased its holdings in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 16.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,603 shares of the scientific and technical instruments company’s stock after purchasing an additional 31,026 shares during the period. Pacific Ridge Capital Partners LLC owned approximately 3.33% of Hurco Companies worth $4,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 74.36% of the company’s stock.

Hurco Companies Company Profile

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.