Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Down 20.4% in October

Hurco Companies, Inc. (NASDAQ:HURC) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 23,800 shares, a decline of 20.4% from the October 15th total of 29,900 shares. Based on an average daily trading volume, of 17,100 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.4% of the shares of the stock are short sold.

Insider Activity at Hurco Companies

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hurco Companies stock. George Kaiser Family Foundation increased its holdings in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 27.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,555 shares of the scientific and technical instruments company’s stock after buying an additional 5,314 shares during the quarter. Hurco Companies accounts for approximately 0.1% of George Kaiser Family Foundation’s holdings, making the stock its 17th largest holding. George Kaiser Family Foundation owned 0.38% of Hurco Companies worth $517,000 at the end of the most recent quarter. 74.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Hurco Companies from a “sell” rating to a “hold” rating in a research report on Tuesday.

Hurco Companies Stock Performance

Shares of Hurco Companies stock traded down $0.46 during midday trading on Friday, hitting $21.45. The company’s stock had a trading volume of 9,870 shares, compared to its average volume of 22,873. The stock has a 50-day simple moving average of $20.24 and a 200-day simple moving average of $18.15. Hurco Companies has a 1-year low of $14.82 and a 1-year high of $28.20.

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

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.