Hurco Companies (NASDAQ:HURC) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Hurco Companies shares rose above their 200-day moving average on Thursday, trading as high as $22.96 before last changing hands at $22.76. The 200-day moving average was $17.41, highlighting a notable technical breakout.
• Wall Street sentiment remains bearish, with Weiss Ratings reaffirming a “sell (d-)” rating and MarketBeat data showing a consensus rating of “Sell.”
• The company’s recent fundamentals were weak: Hurco reported a quarterly loss of $0.37 per share on revenue of $47.62 million, with a negative net margin and negative return on equity.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.41 and traded as high as $22.96. Hurco Companies shares last traded at $22.76, with a volume of 53,643 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Hurco Companies in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hurco Companies presently has a consensus rating of "Sell".

Hurco Companies Price Performance

The stock has a market capitalization of $147.48 million, a PE ratio of -11.61 and a beta of 0.69. The firm has a fifty day moving average price of $19.45 and a two-hundred day moving average price of $17.41.

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

Institutional Trading of Hurco Companies

A number of large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its stake in Hurco Companies by 0.5% in 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 buying an additional 1,733 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in 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 valued at $1,086,000 after buying an additional 13,296 shares in the last quarter. Marshall Wace LLP lifted its holdings in 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 valued at $1,163,000 after buying an additional 48,397 shares in the last quarter. Finally, Brooklands Fund Management Ltd boosted its position in Hurco Companies by 9.3% in the 4th quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company's stock valued at $5,056,000 after buying an additional 26,000 shares during the period. 74.36% of the stock is owned by hedge funds and other institutional investors.

About Hurco Companies

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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