Hurco Companies (NASDAQ:HURC) Upgraded at StockNews.com

Hurco Companies (NASDAQ:HURC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Hurco Companies Stock Down 0.9 %

Shares of HURC opened at $23.19 on Thursday. Hurco Companies has a twelve month low of $14.82 and a twelve month high of $28.20. The firm has a 50 day moving average of $20.89 and a 200 day moving average of $18.37. The company has a market capitalization of $149.58 million, a P/E ratio of -11.77 and a beta of 0.38.

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 for the quarter. The business had revenue of $42.65 million for the quarter. Hurco Companies had a negative return on equity of 5.87% and a negative net margin of 6.40%.

Insider Activity

In other news, major shareholder Polar Asset Management Partner sold 24,300 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $22.50, for a total transaction of $546,750.00. Following the sale, the insider now directly owns 806,943 shares in the company, valued at approximately $18,156,217.50. This represents a 2.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Hurco Companies

A hedge fund recently bought a new stake in Hurco Companies stock. George Kaiser Family Foundation bought a new stake in shares of Hurco Companies, Inc. (NASDAQ:HURC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies comprises approximately 0.1% of George Kaiser Family Foundation’s portfolio, making the stock its 17th largest holding. George Kaiser Family Foundation owned 0.30% of Hurco Companies as of its most recent filing with the Securities and Exchange Commission (SEC). 74.36% of the stock is owned by institutional investors.

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.