Hurco Companies, Inc. (NASDAQ:HURC) Sees Large Drop in Short Interest

Key Points

• Short interest in Hurco Companies fell 74.5% to 9,489 shares as of September 30, representing 0.2% of shares outstanding and a short-interest ratio of 0.6 days.
• Analyst sentiment remains largely negative: the stock carries an average “Sell” rating, despite one research firm upgrading it to “Buy.”
• Institutional investors own 74.36% of HURC, while the company reported quarterly EPS of $0.35 on $47.29 million in revenue; its latest share price was $21.00.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 9,489 shares, a decrease of 74.5% from the September 15th total of 37,282 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 16,958 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

Several research firms have commented on HURC. Weiss Ratings reissued a "sell (d-)" rating on shares of Hurco Companies in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Hurco Companies from a "hold" rating to a "buy" rating in a research report on Saturday, September 12th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of "Sell".

Institutional Investors Weigh In On Hurco Companies

Several hedge funds and other institutional investors have recently bought and sold shares of HURC. Meros Investment Management LP bought a new position in shares of Hurco Companies during the 2nd quarter valued at about $4,838,126. BlackRock Inc. bought a new stake in shares of Hurco Companies in the 2nd quarter worth approximately $3,619,000. George Kaiser Family Foundation bought a new stake in shares of Hurco Companies in the 2nd quarter worth approximately $1,846,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Hurco Companies in the 2nd quarter worth approximately $1,702,000. Finally, Brooklands Fund Management Ltd lifted its stake in 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 valued at $5,208,000 after purchasing an additional 48,377 shares during the last quarter. 74.36% of the stock is currently owned by institutional investors.

Hurco Companies Price Performance

HURC opened at $21.00 on Friday. The business has a 50 day moving average price of $22.15 and a two-hundred day moving average price of $19.95. The company has a market capitalization of $136.08 million, a price-to-earnings ratio of -20.39 and a beta of 0.71. Hurco Companies has a 1-year low of $14.50 and a 1-year high of $24.49.

Hurco Companies (NASDAQ:HURC - Get Free Report) last issued its quarterly earnings results on Friday, September 4th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter. The company had revenue of $47.29 million for the quarter. Hurco Companies had a negative return on equity of 3.37% and a negative net margin of 3.58%.

Hurco Companies Company Profile

Hurco Companies, Inc is an industrial technology company that designs, manufactures, and sells computerized machine tools and related software. Its products are used by manufacturers for precision metalworking, including the production of components for the aerospace, automotive, medical, energy, and general industrial sectors.

The company's product portfolio includes computer numerical control (CNC) machining centers, turning centers, and other machine tools, along with integrated CNC controls and manufacturing software.

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