Short Interest in Hurco Companies, Inc. (NASDAQ:HURC) Drops By 33.2%

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 15,300 shares, a drop of 33.2% from the March 15th total of 22,900 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 19,300 shares, the short-interest ratio is currently 0.8 days.

Hurco Companies Trading Up 4.4 %

Shares of HURC stock traded up $0.63 during trading hours on Wednesday, reaching $15.05. 25,587 shares of the stock were exchanged, compared to its average volume of 20,088. The firm has a market capitalization of $97.58 million, a price-to-earnings ratio of -5.88 and a beta of 0.56. Hurco Companies has a 12-month low of $13.22 and a 12-month high of $23.76. The company's 50-day moving average price is $16.31 and its 200-day moving average price is $19.33.

Hurco Companies (NASDAQ:HURC - Get Free Report) last released its earnings results on Friday, March 7th. The scientific and technical instruments company reported ($0.67) EPS for the quarter. Hurco Companies had a negative net margin of 8.90% and a negative return on equity of 7.78%. The business had revenue of $46.41 million for the quarter.

Insiders Place Their Bets

In other news, major shareholder Polar Asset Management Partner sold 3,395 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.62, for a total value of $76,794.90. Following the completion of the sale, the insider now directly owns 775,582 shares of the company's stock, valued at $17,543,664.84. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 16,905 shares of company stock valued at $319,226 in the last three months. Corporate insiders own 8.70% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hurco Companies stock. Pacific Ridge Capital Partners LLC raised its stake in Hurco Companies, Inc. (NASDAQ:HURC - Free Report) by 38.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,958 shares of the scientific and technical instruments company's stock after buying an additional 52,667 shares during the period. Pacific Ridge Capital Partners LLC owned about 2.85% of Hurco Companies worth $3,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 74.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Hurco Companies from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th.

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.