Short Interest in Hurco Companies, Inc. (NASDAQ:HURC) Rises By 50.2%

Key Points

• Short interest in Hurco Companies, Inc. has jumped by 50.2% in July, totaling 38,900 shares, indicating increased bearish sentiment among investors.
• Chairman Michael Doar acquired 4,000 shares of Hurco stock for approximately $62,960, increasing his ownership by 1.86%.
• The George Kaiser Family Foundation boosted its stake in Hurco Companies by 16.4%, owning 28,591 shares and representing 0.44% of their portfolio.

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 38,900 shares, anincreaseof50.2% from the June 30th total of 25,900 shares. Based on an average trading volume of 36,800 shares, the short-interest ratio is presently 1.1 days. Currently,0.7% of the company's shares are short sold. Currently,0.7% of the company's shares are short sold. Based on an average trading volume of 36,800 shares, the short-interest ratio is presently 1.1 days.

Insider Activity at Hurco Companies

In related news, Chairman Michael Doar purchased 4,000 shares of Hurco Companies stock in a transaction dated Monday, June 23rd. The shares were acquired at an average price of $15.74 per share, for a total transaction of $62,960.00. Following the acquisition, the chairman directly owned 219,460 shares in the company, valued at approximately $3,454,300.40. The trade was a 1.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 12,820 shares of company stock worth $220,491. 8.70% of the stock is owned by insiders.

Institutional Trading of Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation lifted its stake 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 disclosure with the SEC. The institutional investor owned 28,591 shares of the scientific and technical instruments company's stock after buying an additional 4,036 shares during the quarter. Hurco Companies makes up approximately 0.1% of George Kaiser Family Foundation's portfolio, making the stock its 20th biggest position. George Kaiser Family Foundation owned 0.44% of Hurco Companies worth $443,000 at the end of the most recent reporting period. 74.36% of the stock is owned by institutional investors.

Hurco Companies Trading Down 0.9%

Shares of HURC opened at $19.23 on Thursday. The firm has a market cap of $125.19 million, a P/E ratio of -6.43 and a beta of 0.55. Hurco Companies has a 12-month low of $13.19 and a 12-month high of $23.76. The company's 50-day moving average price is $17.63 and its 200 day moving average price is $17.32.

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

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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