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 recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 11,600 shares, a decline of 52.5% from the August 15th total of 24,400 shares. Approximately 0.2% of the company's shares are sold short. Based on an average daily volume of 37,300 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 37,300 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the company's shares are sold short.

Insider Activity at Hurco Companies

In other Hurco Companies news, Chairman Michael Doar acquired 4,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was bought at an average price of $15.74 per share, for a total transaction of $62,960.00. Following the acquisition, the chairman directly owned 219,460 shares in the company, valued at $3,454,300.40. The trade was a 1.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders purchased 11,700 shares of company stock valued at $204,165. 8.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hurco Companies stock. George Kaiser Family Foundation lifted its stake in Hurco Companies, Inc. (NASDAQ:HURC - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 accounts for 0.1% of George Kaiser Family Foundation's portfolio, making the stock its 20th largest position. George Kaiser Family Foundation owned 0.44% of Hurco Companies worth $443,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 74.36% of the company's stock.

Hurco Companies Stock Up 1.8%

HURC opened at $17.75 on Friday. The business has a fifty day moving average of $18.59 and a 200 day moving average of $16.66. Hurco Companies has a 52-week low of $13.19 and a 52-week high of $23.76. The stock has a market cap of $113.60 million, a P/E ratio of -8.45 and a beta of 0.54.

Hurco Companies (NASDAQ:HURC - Get Free Report) last posted its quarterly earnings data on Friday, September 5th. The scientific and technical instruments company reported ($0.58) earnings per share (EPS) 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 for the quarter. During the same period in the prior year, the firm posted ($1.47) EPS.

Hurco Companies Company Profile

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.

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