Hurco Companies (NASDAQ:HURC) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Hurco Companies' stock price has surpassed its 200-day moving average of $16.98, reaching a high of $18.44 during recent trading.
• The company reported a negative net margin of 10.58% and a P/E ratio of -5.91% for the most recent quarter.
• Insider trading activity includes Chairman Michael Doar purchasing 4,000 shares at an average price of $15.74, increasing his ownership stake in the company.

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 $16.98 and traded as high as $18.44. Hurco Companies shares last traded at $17.66, with a volume of 27,856 shares trading hands.

Hurco Companies Stock Performance

The firm's 50-day simple moving average is $18.67 and its 200 day simple moving average is $16.98. The company has a market cap of $114.97 million, a P/E ratio of -5.91 and a beta of 0.55.

Hurco Companies (NASDAQ:HURC - Get Free Report) last released its quarterly earnings data on Friday, June 6th. The scientific and technical instruments company reported ($0.62) EPS for the quarter. Hurco Companies had a negative net margin of 10.58% and a negative return on equity of 9.54%. The firm had revenue of $40.87 million during the quarter.

Insiders Place Their Bets

In related news, Chairman Michael Doar bought 4,000 shares of Hurco Companies stock in a transaction that occurred on Monday, June 23rd. The stock was purchased at an average cost of $15.74 per share, with a total value of $62,960.00. Following the purchase, the chairman owned 219,460 shares in the company, valued at approximately $3,454,300.40. This trade represents a 1.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have acquired 12,820 shares of company stock valued at $220,491. 8.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hurco Companies

An institutional investor recently raised its position in Hurco Companies stock. George Kaiser Family Foundation lifted its holdings in shares of Hurco Companies, Inc. (NASDAQ:HURC - Free Report) by 16.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,591 shares of the scientific and technical instruments company's stock after buying an additional 4,036 shares during the period. Hurco Companies comprises 0.1% of George Kaiser Family Foundation's holdings, making the stock its 20th largest 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 currently 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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