Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Down 52.5% in August

Key Points

• Hurco Companies experienced a significant decrease in short interest, with a decline of 52.5% in August, bringing total short shares down to 11,600.
• Chairman Michael Doar increased his stake in Hurco by purchasing 4,000 shares at $15.74 each, raising his total ownership to 219,460 shares valued at approximately $3.45 million.
• Institutional ownership is strong, with hedge funds and other investors holding 74.36% of Hurco's stock, while the George Kaiser Family Foundation increased its stake by 16.4% during the first quarter.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 11,600 shares, a drop of 52.5% from the August 15th total of 24,400 shares. Approximately 0.2% of the company's stock are short sold. Based on an average daily volume of 37,300 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 37,300 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the company's stock are short sold.

Hurco Companies Price Performance

NASDAQ:HURC traded down $0.06 during mid-day trading on Thursday, reaching $17.44. The stock had a trading volume of 13,675 shares, compared to its average volume of 28,514. The company has a market capitalization of $111.65 million, a price-to-earnings ratio of -8.30 and a beta of 0.54. Hurco Companies has a 1-year low of $13.19 and a 1-year high of $23.76. The stock's 50 day simple moving average is $18.43 and its two-hundred day simple moving average is $16.65.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation raised its stake in shares of Hurco Companies, Inc. (NASDAQ:HURC - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 28,591 shares of the scientific and technical instruments company's stock after purchasing an additional 4,036 shares during the quarter. Hurco Companies accounts for about 0.1% of George Kaiser Family Foundation's investment portfolio, making the stock its 20th biggest position. George Kaiser Family Foundation owned about 0.44% of Hurco Companies worth $443,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.