Hurco Companies, Inc. (NASDAQ:HURC) Sees Large Decline in Short Interest

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 21,900 shares, a decline of 11.0% from the November 15th total of 24,600 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 17,200 shares, the days-to-cover ratio is currently 1.3 days.

Insider Buying and Selling

In other news, major shareholder Polar Asset Management Partner sold 24,300 shares of Hurco Companies stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $22.50, for a total value of $546,750.00. Following the transaction, the insider now directly owns 806,943 shares of the company’s stock, valued at $18,156,217.50. This trade 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 Inflows and Outflows

A hedge fund recently bought a new stake in Hurco Companies stock. George Kaiser Family Foundation acquired a new position in Hurco Companies, Inc. (NASDAQ:HURC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies comprises approximately 0.1% of George Kaiser Family Foundation’s holdings, making the stock its 17th largest position. George Kaiser Family Foundation owned 0.30% of Hurco Companies at the end of the most recent reporting period. Hedge funds and other institutional investors own 74.36% of the company’s stock.

Hurco Companies Stock Performance

Shares of HURC opened at $19.10 on Tuesday. The company’s 50 day moving average price is $21.48 and its 200 day moving average price is $18.76. The company has a market capitalization of $123.20 million, a PE ratio of -9.70 and a beta of 0.40. Hurco Companies has a 52 week low of $14.82 and a 52 week high of $28.20.

Analyst Ratings Changes

Separately, StockNews.com upgraded Hurco Companies from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

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.