Hurco Companies (NASDAQ:HURC) Shares Cross Above 200-Day Moving Average – What’s Next?

Hurco Companies, Inc. (NASDAQ:HURC) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.27 and traded as high as $22.46. Hurco Companies shares last traded at $21.72, with a volume of 25,755 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hurco Companies in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Hurco Companies Stock Up 0.6%

The stock has a market cap of $143.92 million, a P/E ratio of -11.33 and a beta of 0.70. The company has a 50-day simple moving average of $21.73 and a two-hundred day simple moving average of $18.30.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brooklands Fund Management Ltd grew its holdings in Hurco Companies by 9.3% during the 4th quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock worth $5,056,000 after acquiring an additional 26,000 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Hurco Companies by 23.3% during the fourth 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 buying an additional 13,296 shares during the period. George Kaiser Family Foundation acquired a new stake in Hurco Companies in the 2nd quarter valued at $1,846,000. BlackRock Inc. acquired a new position in shares of Hurco Companies during the second quarter valued at approximately $3,619,000. Finally, Bank of New York Mellon Corp acquired a new position in Hurco Companies during the second quarter worth about $561,000. 74.36% of the stock is owned by hedge funds and other 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.