Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Down 17.9% in March

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 22,900 shares, a decline of 17.9% from the February 28th total of 27,900 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,400 shares, the days-to-cover ratio is presently 1.2 days.

Hurco Companies Trading Up 0.1 %

Shares of HURC traded up $0.02 during trading hours on Tuesday, reaching $15.53. 5,044 shares of the company’s stock traded hands, compared to its average volume of 20,362. Hurco Companies has a 12 month low of $14.83 and a 12 month high of $23.76. The stock has a market cap of $100.66 million, a PE ratio of -6.06 and a beta of 0.42. The firm’s 50 day simple moving average is $19.11 and its 200-day simple moving average is $19.98.

Hurco Companies (NASDAQ:HURC) last announced its earnings results on Friday, March 7th. The scientific and technical instruments company reported ($0.67) earnings per share (EPS) for the quarter. Hurco Companies had a negative net margin of 8.90% and a negative return on equity of 7.78%. The company had revenue of $46.41 million for the quarter.

Analysts Set New Price Targets

Separately, StockNews.com raised Hurco Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th.

Insider Buying and Selling at Hurco Companies

In other news, major shareholder Polar Asset Management Partner sold 4,510 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $22.63, for a total transaction of $102,061.30. Following the completion of the transaction, the insider now directly owns 782,070 shares in the company, valued at $17,698,244.10. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 13,905 shares of company stock valued at $272,696 in the last quarter. 8.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Hurco Companies

An institutional investor recently raised its position in Hurco Companies stock. Pacific Ridge Capital Partners LLC raised its position in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 38.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,958 shares of the scientific and technical instruments company’s stock after purchasing an additional 52,667 shares during the period. Pacific Ridge Capital Partners LLC owned approximately 2.85% of Hurco Companies worth $3,645,000 at the end of the most recent reporting period. 74.36% of the stock is currently owned by institutional investors and hedge funds.

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.