Short Interest in Hurco Companies, Inc. (NASDAQ:HURC) Grows By 14.9%

Hurco Companies, Inc. (NASDAQ:HURC) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 16,200 shares, a growth of 14.9% from the May 31st total of 14,100 shares. Based on an average daily volume of 29,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hurco Companies stock. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 16.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,603 shares of the scientific and technical instruments company’s stock after purchasing an additional 31,026 shares during the quarter. Pacific Ridge Capital Partners LLC owned about 3.33% of Hurco Companies worth $4,367,000 as of its most recent filing with the SEC. 74.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. TheStreet raised shares of Hurco Companies from a “c+” rating to a “b-” rating in a report on Friday, March 8th. StockNews.com cut shares of Hurco Companies from a “hold” rating to a “sell” rating in a research report on Thursday, June 6th.

Hurco Companies Price Performance

NASDAQ HURC opened at $15.75 on Monday. The firm’s 50-day moving average is $17.56 and its two-hundred day moving average is $20.79. Hurco Companies has a 12 month low of $15.10 and a 12 month high of $28.20. The stock has a market capitalization of $102.69 million, a P/E ratio of -33.17 and a beta of 0.38.

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.