Short Interest in Hurco Companies, Inc. (NASDAQ:HURC) Drops By 52.9%

Key Points

• The short interest in Hurco Companies, Inc. dropped by 52.9% in September, decreasing from 22,300 shares to 10,500 shares.
• Hurco reported a quarterly loss of ($0.58) earnings per share, showing improvement from a loss of ($1.47) EPS during the same quarter last year.
• Institutional investors own 74.36% of Hurco's stock, with the George Kaiser Family Foundation recently increasing its stake by 16.4%.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 10,500 shares, a drop of 52.9% from the September 15th total of 22,300 shares. Based on an average daily volume of 34,200 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the shares of the stock are sold short. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 34,200 shares, the short-interest ratio is currently 0.3 days.

Hurco Companies Price Performance

NASDAQ:HURC traded up $0.61 during mid-day trading on Monday, reaching $18.21. 11,473 shares of the company's stock traded hands, compared to its average volume of 28,534. Hurco Companies has a 12-month low of $13.19 and a 12-month high of $23.76. The firm has a market capitalization of $116.54 million, a price-to-earnings ratio of -8.67 and a beta of 0.56. The company has a 50 day moving average price of $17.68 and a 200-day moving average price of $16.87.

Hurco Companies (NASDAQ:HURC - Get Free Report) last announced its quarterly earnings results on Friday, September 5th. The scientific and technical instruments company reported ($0.58) earnings per share (EPS) for the quarter. Hurco Companies had a negative net margin of 7.24% and a negative return on equity of 6.67%. The business had revenue of $45.81 million for the quarter. During the same quarter in the previous year, the company posted ($1.47) EPS.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Hurco Companies in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hurco Companies has an average rating of "Sell".

Institutional Trading of Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation lifted its stake in Hurco Companies, Inc. (NASDAQ:HURC - Free Report) by 16.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,591 shares of the scientific and technical instruments company's stock after purchasing an additional 4,036 shares during the quarter. Hurco Companies comprises approximately 0.1% of George Kaiser Family Foundation's holdings, making the stock its 20th largest position. George Kaiser Family Foundation owned 0.44% of Hurco Companies worth $443,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 74.36% of the company's stock.

About Hurco Companies

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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