Hurco Companies, Inc. (NASDAQ:HURC) Sees Large Decline in Short Interest

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 21,900 shares, a drop of 11.0% from the November 15th total of 24,600 shares. Currently, 0.4% of the company's shares are short sold. Based on an average daily volume of 17,200 shares, the short-interest ratio is presently 1.3 days.

Analyst Ratings Changes

Separately, StockNews.com raised Hurco Companies from a "sell" rating to a "hold" rating in a report on Friday, December 6th.

Insider Buying and Selling

In other news, major shareholder Polar Asset Management Partner sold 24,300 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $22.50, for a total transaction of $546,750.00. Following the sale, the insider now owns 806,943 shares of the company's stock, valued at approximately $18,156,217.50. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.20% of the stock is owned by company insiders.

Institutional Trading of Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation increased its stake in shares of Hurco Companies, Inc. (NASDAQ:HURC - Free Report) by 27.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,555 shares of the scientific and technical instruments company's stock after buying an additional 5,314 shares during the period. Hurco Companies comprises 0.1% of George Kaiser Family Foundation's portfolio, making the stock its 17th largest holding. George Kaiser Family Foundation owned 0.38% of Hurco Companies worth $517,000 as of its most recent filing with the Securities and Exchange Commission. 74.36% of the stock is currently owned by hedge funds and other institutional investors.

Hurco Companies Stock Performance

HURC stock traded up $0.21 during midday trading on Tuesday, reaching $19.31. 30,322 shares of the company were exchanged, compared to its average volume of 22,594. The stock's 50-day simple moving average is $21.48 and its 200 day simple moving average is $18.76. Hurco Companies has a 1-year low of $14.82 and a 1-year high of $28.20. The company has a market cap of $124.55 million, a price-to-earnings ratio of -9.80 and a beta of 0.40.

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.