Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Up 50.2% in July

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 recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 38,900 shares, agrowthof50.2% from the June 30th total of 25,900 shares. Currently,0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 36,800 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 36,800 shares, the days-to-cover ratio is presently 1.1 days. Currently,0.7% of the shares of the stock are sold short.

Insiders Place Their Bets

In other Hurco Companies news, Chairman Michael Doar acquired 3,000 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were acquired at an average cost of $20.40 per share, for a total transaction of $61,200.00. Following the completion of the acquisition, the chairman directly owned 226,460 shares of the company's stock, valued at approximately $4,619,784. This represents a 1.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 12,820 shares of company stock worth $220,491 over the last quarter. 8.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation raised its stake in shares of 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 and Exchange Commission. The firm 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 makes up about 0.1% of George Kaiser Family Foundation's holdings, making the stock its 20th biggest holding. George Kaiser Family Foundation owned about 0.44% of Hurco Companies worth $443,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 74.36% of the company's stock.

Hurco Companies Stock Down 0.7%

Shares of NASDAQ:HURC traded down $0.13 during midday trading on Monday, hitting $18.65. The stock had a trading volume of 3,074 shares, compared to its average volume of 26,613. The company's 50-day moving average price is $17.81 and its 200-day moving average price is $17.23. The company has a market capitalization of $121.36 million, a P/E ratio of -6.24 and a beta of 0.55. Hurco Companies has a fifty-two week low of $13.19 and a fifty-two week high of $23.76.

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

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.