Hurco Companies (NASDAQ:HURC) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Hurco Companies' stock recently crossed above its 200-day moving average, indicating potential upward momentum, with a high of $17.91 and a last traded price of $17.86.
• The company reported a quarterly earnings loss of ($0.58) EPS with revenue of $45.81 million, but improved from a loss of ($1.47) EPS in the same quarter last year.
• Insider transactions included Chairman Michael Doar purchasing 3,000 shares, signaling confidence in the company's future performance.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.63 and traded as high as $17.91. Hurco Companies shares last traded at $17.86, with a volume of 128,098 shares trading hands.

Hurco Companies Stock Performance

The firm has a market cap of $114.30 million, a price-to-earnings ratio of -8.50 and a beta of 0.55. The stock's 50 day simple moving average is $18.32 and its 200-day simple moving average is $16.63.

Hurco Companies (NASDAQ:HURC - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $45.81 million for the quarter. During the same quarter last year, the firm earned ($1.47) EPS.

Insider Transactions at Hurco Companies

In related news, Chairman Michael Doar purchased 3,000 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were acquired at an average price of $20.40 per share, for a total transaction of $61,200.00. Following the purchase, the chairman owned 226,460 shares of the company's stock, valued at $4,619,784. This trade represents a 1.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 lifted its holdings in Hurco Companies, Inc. (NASDAQ:HURC - Free Report) by 16.4% during the first quarter, according to its most recent disclosure 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 quarter. Hurco Companies accounts for 0.1% of George Kaiser Family Foundation's holdings, making the stock its 20th biggest position. George Kaiser Family Foundation owned approximately 0.44% of Hurco Companies worth $443,000 as of its most recent SEC filing. 74.36% of the stock is owned by institutional investors.

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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