Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Update

Key Points

• Hurco Companies, Inc. experienced a 33.5% decline in short interest from July to August, leading to a current short interest of just 24,400 shares, or 0.4% of its stock.
• The company's stock price rose by 7.5% to $17.93, with a market capitalization of approximately $116.72 million and a P/E ratio of -8.54.
• Insider trading activity saw Chairman Michael Doar purchase 4,000 shares for about $62,960, raising his ownership stake in the company.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the target of a significant drop in short interest in August. As of August 15th, there was short interest totaling 24,400 shares, a drop of 33.5% from the July 31st total of 36,700 shares. Currently, 0.4% of the company's stock are short sold. Based on an average daily volume of 30,400 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 30,400 shares, the short-interest ratio is presently 0.8 days. Currently, 0.4% of the company's stock are short sold.

Insiders Place Their Bets

In other Hurco Companies news, Chairman Michael Doar bought 4,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was acquired at an average price of $15.74 per share, with a total value of $62,960.00. Following the completion of the transaction, the chairman owned 219,460 shares in the company, valued at approximately $3,454,300.40. This trade represents a 1.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 11,700 shares of company stock valued at $204,165 over the last ninety days. 8.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation grew its position in Hurco Companies, Inc. (NASDAQ:HURC - Free Report) by 16.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,591 shares of the scientific and technical instruments company's stock after acquiring an additional 4,036 shares during the period. Hurco Companies comprises about 0.1% of George Kaiser Family Foundation's portfolio, making the stock its 20th largest holding. George Kaiser Family Foundation owned 0.44% of Hurco Companies worth $443,000 at the end of the most recent reporting period. 74.36% of the stock is currently owned by hedge funds and other institutional investors.

Hurco Companies Stock Performance

Hurco Companies stock traded up $0.31 during mid-day trading on Friday, reaching $17.75. The company's stock had a trading volume of 21,368 shares, compared to its average volume of 27,404. The company has a market capitalization of $113.64 million, a price-to-earnings ratio of -8.45 and a beta of 0.54. Hurco Companies has a 12 month low of $13.19 and a 12 month high of $23.76. The business's 50 day simple moving average is $18.64 and its 200 day simple moving average is $16.66.

Hurco Companies (NASDAQ:HURC - Get Free Report) last released its earnings results on Friday, September 5th. The scientific and technical instruments company reported ($0.58) earnings per share for the quarter. Hurco Companies had a negative net margin of 7.24% and a negative return on equity of 6.67%. The business had revenue of $45.81 million during the quarter. During the same period in the prior year, the business posted ($1.47) earnings per share.

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.