Hurco Companies (NASDAQ:HURC) Lowered to Sell Rating by StockNews.com

Hurco Companies (NASDAQ:HURC) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Hurco Companies Stock Up 1.4 %

HURC opened at $21.40 on Wednesday. The company has a market cap of $138.03 million, a PE ratio of -10.86 and a beta of 0.38. Hurco Companies has a twelve month low of $14.82 and a twelve month high of $28.20. The company has a 50-day moving average price of $20.48 and a 200 day moving average price of $18.22.

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

Insider Activity

In other news, major shareholder Polar Asset Management Partner sold 24,300 shares of the company’s stock in a transaction that occurred on 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 directly owns 806,943 shares in the company, valued at $18,156,217.50. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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 purchased a new stake in Hurco Companies, Inc. (NASDAQ:HURC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies accounts for approximately 0.1% of George Kaiser Family Foundation’s holdings, making the stock its 17th largest position. George Kaiser Family Foundation owned 0.30% of Hurco Companies as of its most recent SEC filing. 74.36% of the stock is owned by institutional investors.

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.