Short Interest in Hurco Companies, Inc. (NASDAQ:HURC) Grows By 14.9%

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 16,200 shares, a growth of 14.9% from the May 31st total of 14,100 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 29,000 shares, the short-interest ratio is presently 0.6 days.

Hurco Companies Stock Performance

Shares of Hurco Companies stock opened at $15.75 on Monday. The company has a 50-day simple moving average of $17.56 and a two-hundred day simple moving average of $20.79. Hurco Companies has a 52-week low of $15.10 and a 52-week high of $28.20. The stock has a market capitalization of $102.69 million, a PE ratio of -33.17 and a beta of 0.38.

Wall Street Analysts Forecast Growth

HURC has been the subject of several recent analyst reports. TheStreet raised shares of Hurco Companies from a “c+” rating to a “b-” rating in a report on Friday, March 8th. StockNews.com cut shares of Hurco Companies from a “hold” rating to a “sell” rating in a report on Thursday, June 6th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hurco Companies stock. Pacific Ridge Capital Partners LLC increased its stake in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 16.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,603 shares of the scientific and technical instruments company’s stock after purchasing an additional 31,026 shares during the period. Pacific Ridge Capital Partners LLC owned approximately 3.33% of Hurco Companies worth $4,367,000 as of its most recent filing with the Securities & Exchange Commission. 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.