Hurco Companies (NASDAQ:HURC) Lowered to Sell Rating by StockNews.com

Hurco Companies (NASDAQ:HURC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Hurco Companies Trading Up 8.2 %

HURC stock opened at $22.89 on Wednesday. Hurco Companies has a 1-year low of $14.82 and a 1-year high of $28.20. The stock has a market cap of $147.64 million, a P/E ratio of -11.62 and a beta of 0.38. The stock’s fifty day simple moving average is $20.63 and its two-hundred day simple moving average is $18.27.

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

Insider Activity

In related news, major shareholder Polar Asset Management Partner sold 24,300 shares of Hurco Companies stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $22.50, for a total value of $546,750.00. Following the completion of the sale, the insider now owns 806,943 shares of the company’s stock, valued at approximately $18,156,217.50. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Hurco Companies

An institutional investor recently bought a new position in Hurco Companies stock. George Kaiser Family Foundation purchased a new stake in shares of Hurco Companies, Inc. (NASDAQ:HURC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies makes up approximately 0.1% of George Kaiser Family Foundation’s holdings, making the stock its 17th biggest holding. George Kaiser Family Foundation owned about 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.