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

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 25,600 shares, an increase of 232.5% from the August 31st total of 7,700 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 16,400 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Hurco Companies from a “hold” rating to a “sell” rating in a report on Thursday, June 6th.

Hurco Companies Stock Performance

HURC traded up $0.09 during midday trading on Wednesday, reaching $18.30. The company’s stock had a trading volume of 11,496 shares, compared to its average volume of 23,861. Hurco Companies has a twelve month low of $14.82 and a twelve month high of $28.20. The company has a fifty day simple moving average of $17.36 and a 200 day simple moving average of $17.81.

Hurco Companies (NASDAQ:HURC) last announced its earnings results on Friday, September 6th. The scientific and technical instruments company reported ($1.47) earnings per share (EPS) for the quarter. The company 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 Transactions at Hurco Companies

In related news, CFO Sonja K. Mcclelland purchased 1,950 shares of the stock in a transaction dated Tuesday, July 9th. The shares were acquired at an average cost of $15.32 per share, for a total transaction of $29,874.00. Following the acquisition, the chief financial officer now directly owns 81,266 shares in the company, valued at approximately $1,244,995.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 2,915 shares of company stock valued at $44,565 over the last quarter. Company 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 bought a new position in shares of Hurco Companies, Inc. (NASDAQ:HURC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies makes up 0.1% of George Kaiser Family Foundation’s holdings, making the stock its 17th biggest holding. George Kaiser Family Foundation owned 0.30% of Hurco Companies at the end of the most recent quarter. Institutional investors and hedge funds own 74.36% of the company’s stock.

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.