Short Interest in Hurco Companies, Inc. (NASDAQ:HURC) Decreases By 17.9%

Hurco Companies, Inc. (NASDAQ:HURC) saw a large decline in short interest during the month of 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. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 18,400 shares, the days-to-cover ratio is presently 1.2 days.

Insiders Place Their Bets

In other news, major shareholder Polar Asset Management Partner sold 4,510 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $22.63, for a total value of $102,061.30. Following the sale, the insider now owns 782,070 shares in the company, valued at approximately $17,698,244.10. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 16,905 shares of company stock worth $319,226 in the last three months. 8.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. Pacific Ridge Capital Partners LLC increased its holdings in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 38.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,958 shares of the scientific and technical instruments company’s stock after buying an additional 52,667 shares during the quarter. Pacific Ridge Capital Partners LLC owned 2.85% of Hurco Companies worth $3,645,000 as of its most recent filing with the Securities and Exchange Commission. 74.36% of the stock is currently owned by institutional investors and hedge funds.

Hurco Companies Stock Up 0.1 %

Hurco Companies stock traded up $0.02 during mid-day trading on Wednesday, hitting $15.52. 11,156 shares of the company’s stock traded hands, compared to its average volume of 20,424. Hurco Companies has a one year low of $14.83 and a one year high of $23.76. The firm has a 50 day moving average price of $18.87 and a 200 day moving average price of $19.92. The company has a market cap of $100.63 million, a PE ratio of -6.06 and a beta of 0.42.

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

Analysts Set New Price Targets

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

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.