Hurco Companies, Inc. (NASDAQ:HURC) Short Interest Down 17.9% in March

Hurco Companies, Inc. (NASDAQ:HURC - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 22,900 shares, a decrease of 17.9% from the February 28th total of 27,900 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 18,400 shares, the days-to-cover ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Hurco Companies from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th.

Hurco Companies Stock Performance

NASDAQ HURC traded down $0.49 during trading hours on Friday, reaching $14.10. The company's stock had a trading volume of 22,136 shares, compared to its average volume of 20,362. The company's 50-day moving average is $18.57 and its two-hundred day moving average is $19.86. Hurco Companies has a fifty-two week low of $13.68 and a fifty-two week high of $23.76. The stock has a market cap of $91.42 million, a PE ratio of -5.51 and a beta of 0.56.

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

Insider Transactions at Hurco Companies

In other news, major shareholder Polar Asset Management Partner sold 3,000 shares of the business's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $15.51, for a total transaction of $46,530.00. Following the sale, the insider now owns 760,582 shares of the company's stock, valued at $11,796,626.82. The trade was a 0.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 16,905 shares of company stock valued at $319,226 in the last ninety days. 8.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hurco Companies

An institutional investor recently raised its position in Hurco Companies stock. Pacific Ridge Capital Partners LLC raised its holdings in Hurco Companies, Inc. (NASDAQ:HURC - Free Report) by 38.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 188,958 shares of the scientific and technical instruments company's stock after acquiring an additional 52,667 shares during the period. Pacific Ridge Capital Partners LLC owned 2.85% of Hurco Companies worth $3,645,000 at the end of the most recent reporting period. 74.36% of the stock is currently owned by hedge funds and other 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.