StockNews.com Downgrades Hurco Companies (NASDAQ:HURC) to Sell

Hurco Companies (NASDAQ:HURC) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Hurco Companies Trading Down 0.6 %

NASDAQ HURC opened at $17.70 on Tuesday. The firm’s fifty day moving average price is $20.23 and its two-hundred day moving average price is $20.13. Hurco Companies has a 1 year low of $14.82 and a 1 year high of $28.20. The firm has a market capitalization of $117.60 million, a P/E ratio of -6.91 and a beta of 0.43.

Hurco Companies (NASDAQ:HURC) last issued its quarterly earnings data on Friday, January 10th. The scientific and technical instruments company reported ($0.23) earnings per share for the quarter. Hurco Companies had a negative net margin of 8.90% and a negative return on equity of 7.78%.

Insider Activity

In related news, major shareholder Polar Asset Management Partner sold 3,395 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $22.62, for a total transaction of $76,794.90. Following the transaction, the insider now directly owns 775,582 shares of the company’s stock, valued at approximately $17,543,664.84. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation increased its holdings in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 27.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,555 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,314 shares during the quarter. Hurco Companies comprises about 0.1% of George Kaiser Family Foundation’s investment portfolio, making the stock its 17th largest holding. George Kaiser Family Foundation owned approximately 0.38% of Hurco Companies worth $517,000 at the end of the most recent quarter. 74.36% of the stock is owned by hedge funds and other 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.