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 report sent to investors on Wednesday morning.

Hurco Companies Stock Down 1.2 %

Shares of HURC stock opened at $21.15 on Wednesday. Hurco Companies has a 52-week low of $14.82 and a 52-week high of $28.20. The company has a 50-day simple moving average of $20.54 and a two-hundred day simple moving average of $18.24.

Hurco Companies (NASDAQ:HURC) last announced its 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 during 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 firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $22.50, for a total transaction of $546,750.00. Following the completion of the sale, the insider now owns 806,943 shares in the company, valued at $18,156,217.50. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 acquired a new position in Hurco Companies, Inc. (NASDAQ:HURC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies comprises about 0.1% of George Kaiser Family Foundation’s portfolio, making the stock its 17th biggest position. George Kaiser Family Foundation owned about 0.30% of Hurco Companies as of its most recent SEC filing. Institutional investors and hedge funds own 74.36% of the company’s stock.

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.