Hurco Companies, Inc. (NASDAQ:HURC) Sees Large Decline in Short Interest

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the target of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 22,800 shares, a decline of 44.4% from the April 30th total of 41,000 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 23,200 shares, the short-interest ratio is presently 1.0 days.

Insider Buying and Selling

In other Hurco Companies news, major shareholder Polar Asset Management Partner sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $15.50, for a total value of $46,500.00. Following the completion of the transaction, the insider now owns 766,582 shares of the company's stock, valued at $11,882,021. This represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 9,000 shares of company stock valued at $140,370. Insiders own 8.70% of the company's stock.

Institutional Inflows and Outflows

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

Hurco Companies Trading Up 1.9%

NASDAQ HURC traded up $0.28 during trading hours on Tuesday, reaching $14.67. 1,473 shares of the company's stock were exchanged, compared to its average volume of 19,749. The stock has a market cap of $95.12 million, a PE ratio of -5.73 and a beta of 0.49. Hurco Companies has a one year low of $13.22 and a one year high of $23.76. The firm has a fifty day moving average of $14.90 and a 200-day moving average of $18.11.

Hurco Companies (NASDAQ:HURC - Get Free Report) last released its quarterly earnings results on Friday, March 7th. The scientific and technical instruments company reported ($0.67) EPS for the quarter. The business had revenue of $46.41 million for the quarter. Hurco Companies had a negative return on equity of 7.78% and a negative net margin of 8.90%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Hurco Companies from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th.

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.