Hurco Companies (NASDAQ:HURC) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Hurco Companies (NASDAQ:HURC) from a hold rating to a sell rating in a research note released on Wednesday.

Hurco Companies Stock Performance

NASDAQ:HURC opened at $22.66 on Wednesday. The company has a market cap of $146.16 million, a price-to-earnings ratio of -11.50 and a beta of 0.38. The stock’s fifty day moving average price is $20.70 and its two-hundred day moving average price is $18.30. Hurco Companies has a 52-week low of $14.82 and a 52-week high of $28.20.

Hurco Companies (NASDAQ:HURC) last issued its quarterly earnings results on Friday, September 6th. The scientific and technical instruments company reported ($1.47) earnings per share (EPS) for the quarter. The firm had revenue of $42.65 million for the quarter. Hurco Companies had a negative net margin of 6.40% and a negative return on equity of 5.87%.

Insider Transactions at Hurco Companies

In other news, major shareholder Polar Asset Management Partner sold 24,300 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $22.50, for a total value of $546,750.00. Following the transaction, the insider now owns 806,943 shares of the company’s stock, valued at $18,156,217.50. This represents a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hurco Companies

An institutional investor recently bought a new position in Hurco Companies stock. George Kaiser Family Foundation bought a new position in shares of Hurco Companies, Inc. (NASDAQ:HURC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies accounts for approximately 0.1% of George Kaiser Family Foundation’s holdings, making the stock its 17th biggest holding. George Kaiser Family Foundation owned about 0.30% of Hurco Companies at the end of the most recent reporting period. 74.36% of the stock is currently owned by institutional investors.

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.