Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Down 20.4% in October

Hurco Companies, Inc. (NASDAQ:HURC) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 23,800 shares, a drop of 20.4% from the October 15th total of 29,900 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average trading volume of 17,100 shares, the short-interest ratio is currently 1.4 days.

Insiders Place Their Bets

In related news, major shareholder Polar Asset Management Partner sold 24,300 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $22.50, for a total transaction of $546,750.00. Following the completion of the sale, the insider now directly owns 806,943 shares in the company, valued at approximately $18,156,217.50. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Hurco Companies

A hedge fund recently bought a new stake in Hurco Companies stock. George Kaiser Family Foundation bought a new position in shares of Hurco Companies, Inc. (NASDAQ:HURC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,241 shares of the scientific and technical instruments company’s stock, valued at approximately $294,000. Hurco Companies comprises 0.1% of George Kaiser Family Foundation’s investment portfolio, making the stock its 17th biggest holding. George Kaiser Family Foundation owned approximately 0.30% of Hurco Companies at the end of the most recent quarter. Institutional investors own 74.36% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Hurco Companies from a “sell” rating to a “hold” rating in a research report on Tuesday.

Hurco Companies Stock Down 2.1 %

NASDAQ HURC traded down $0.46 during mid-day trading on Friday, hitting $21.45. The stock had a trading volume of 9,870 shares, compared to its average volume of 22,873. The firm’s 50 day moving average is $20.24 and its 200 day moving average is $18.15. Hurco Companies has a twelve month low of $14.82 and a twelve month high of $28.20.

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

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.