Hurco Companies (NASDAQ:HURC) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Hurco Companies shares rose above their 200-day moving average, reaching $22.46 before last trading at $21.72, compared with a 200-day average of $18.27.
• Despite the technical move, analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell (D-)” rating, and the stock has an overall “Sell” consensus from one tracked analyst.
• The company reported a quarterly loss of $0.37 per share on $47.62 million in revenue, with a negative net margin of 6.92%; institutional investors own approximately 74.36% of the stock.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.27 and traded as high as $22.46. Hurco Companies shares last traded at $21.72, with a volume of 25,755 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Hurco Companies in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hurco Companies has an average rating of "Sell".

Hurco Companies Stock Down 1.5%

The stock has a market cap of $140.75 million, a price-to-earnings ratio of -11.08 and a beta of 0.70. The stock's 50 day moving average price is $21.63 and its two-hundred day moving average price is $18.27.

Hurco Companies (NASDAQ:HURC - Get Free Report) last posted its earnings results on Friday, June 5th. The scientific and technical instruments company reported ($0.37) earnings per share (EPS) for the quarter. Hurco Companies had a negative net margin of 6.92% and a negative return on equity of 6.37%. The business had revenue of $47.62 million for the quarter.

Institutional Trading of Hurco Companies

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Hurco Companies during the second quarter worth approximately $3,619,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Hurco Companies during the second quarter valued at $1,702,000. Marshall Wace LLP grew its position in shares of Hurco Companies by 180.3% in the fourth quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company's stock valued at $1,163,000 after purchasing an additional 48,397 shares during the period. Brooklands Fund Management Ltd increased its stake in shares of Hurco Companies by 15.8% during the first quarter. Brooklands Fund Management Ltd now owns 354,068 shares of the scientific and technical instruments company's stock worth $5,208,000 after purchasing an additional 48,377 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Hurco Companies during the 2nd quarter worth about $561,000. Hedge funds and other institutional investors own 74.36% of the company's stock.

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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