StockNews.com Downgrades Hurco Companies (NASDAQ:HURC) to Sell

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

Hurco Companies Stock Performance

Shares of NASDAQ:HURC opened at $17.70 on Tuesday. Hurco Companies has a 52 week low of $14.82 and a 52 week high of $28.20. The company has a market capitalization of $117.60 million, a PE ratio of -6.91 and a beta of 0.43. The company has a 50 day moving average price of $20.23 and a two-hundred day moving average price of $20.13.

Hurco Companies (NASDAQ:HURC) last issued its earnings results on Friday, January 10th. The scientific and technical instruments company reported ($0.23) EPS for the quarter. Hurco Companies had a negative net margin of 8.90% and a negative return on equity of 7.78%.

Insider Buying and Selling at Hurco Companies

In other news, major shareholder Polar Asset Management Partner sold 4,510 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $22.63, for a total value of $102,061.30. Following the completion of the transaction, the insider now owns 782,070 shares in the company, valued at $17,698,244.10. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hurco Companies stock. George Kaiser Family Foundation grew its stake in Hurco Companies, Inc. (NASDAQ:HURC) by 27.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,555 shares of the scientific and technical instruments company’s stock after buying an additional 5,314 shares during the quarter. Hurco Companies accounts for about 0.1% of George Kaiser Family Foundation’s investment portfolio, making the stock its 17th biggest holding. George Kaiser Family Foundation owned about 0.38% of Hurco Companies worth $517,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 74.36% of the company’s stock.

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.