Short Interest in Hurco Companies, Inc. (NASDAQ:HURC) Decreases By 64.1%

Key Points

• Short interest in Hurco Companies fell 64.1% to 40,340 shares as of August 31, representing about 0.7% of shares outstanding and a 1.9-day days-to-cover ratio.
• Analyst sentiment remains cautious despite one upgrade from “hold” to “buy”; Hurco has an overall “Sell” rating, including a recent “sell (d-)” reiteration.
• HURC shares recently traded at $21.79, while the company reported quarterly revenue of $47.29 million and earnings of $0.35 per share. Institutional investors own approximately 74.36% of the stock.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 40,340 shares, a decline of 64.1% from the August 15th total of 112,502 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 21,277 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analyst Weigh In

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

Hurco Companies Price Performance

HURC stock traded down $0.80 during midday trading on Friday, reaching $21.79. The company had a trading volume of 5,728 shares, compared to its average volume of 26,271. Hurco Companies has a 1 year low of $14.50 and a 1 year high of $24.49. The company has a market capitalization of $141.20 million, a P/E ratio of -21.16 and a beta of 0.70. The firm has a 50-day moving average price of $22.10 and a 200-day moving average price of $19.14.

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

Institutional Investors Weigh In On Hurco Companies

A number of large investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in shares of Hurco Companies in the 2nd quarter worth about $199,000. Susquehanna International Group LLP purchased a new position in shares of Hurco Companies during the 2nd quarter valued at about $202,000. Hsbc Holdings PLC bought a new stake in Hurco Companies in the 2nd quarter worth approximately $357,000. GSA Capital Partners LLP purchased a new stake in Hurco Companies in the second quarter worth approximately $499,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hurco Companies in the second quarter worth approximately $511,000. 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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