Hurco Companies (NASDAQ:HURC) Shares Cross Below 200-Day Moving Average - Here's What Happened

Key Points

• Shares crossed below the 200-day moving average: HURC fell beneath its 200-day MA of $16.43, trading as low as $16.25 and last at $16.29 on light volume (~9,287 shares), down about 1.4% intraday.
• Analyst consensus is negative: MarketBeat shows a consensus "Sell" rating; Weiss Ratings reaffirmed a "sell (d-)" while Wall Street Zen recently moved the stock from "sell" to "hold."
• Recent results and ownership: Hurco reported Q EPS of ($0.54) with negative ROE (7.13%) and net margin (−8.15%), revenue of $42.87M, a market cap around $105M, and roughly 74% of shares held by hedge funds and institutional investors.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.43 and traded as low as $16.25. Hurco Companies shares last traded at $16.29, with a volume of 9,287 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HURC shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Hurco Companies in a report on Tuesday. Wall Street Zen raised shares of Hurco Companies from a "sell" rating to a "hold" rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Hurco Companies Trading Down 1.4%

The stock's 50 day moving average price is $16.07 and its two-hundred day moving average price is $16.43. The firm has a market capitalization of $105.07 million, a PE ratio of -7.37 and a beta of 0.67.

Hurco Companies (NASDAQ:HURC - Get Free Report) last issued its quarterly earnings data on Friday, March 6th. The scientific and technical instruments company reported ($0.54) earnings per share for the quarter. Hurco Companies had a negative return on equity of 7.13% and a negative net margin of 8.15%.The business had revenue of $42.87 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. increased its stake in shares of Hurco Companies by 0.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company's stock worth $6,082,000 after purchasing an additional 1,733 shares in the last quarter. Brooklands Fund Management Ltd increased its stake in shares of Hurco Companies by 9.3% during the 4th quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company's stock worth $5,056,000 after purchasing an additional 26,000 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Hurco Companies by 180.3% during the 4th quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company's stock worth $1,163,000 after purchasing an additional 48,397 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Hurco Companies by 23.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 70,321 shares of the scientific and technical instruments company's stock worth $1,086,000 after purchasing an additional 13,296 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Hurco Companies during the 3rd quarter worth approximately $322,000. 74.36% of the stock is owned by hedge funds and other institutional investors.

Hurco Companies Company Profile

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company's product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.

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