Hurco Companies (NASDAQ:HURC) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Hurco Companies, Inc. (NASDAQ:HURC)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.48 and traded as low as $16.42. Hurco Companies shares last traded at $16.99, with a volume of 11,655 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on HURC. Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Hurco Companies from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Hurco Companies Stock Down 0.2%

The company’s fifty day moving average is $16.17 and its 200-day moving average is $16.47. The company has a market cap of $105.52 million, a PE ratio of -7.40 and a beta of 0.67.

Hurco Companies (NASDAQ:HURC) last issued its earnings results on Friday, March 6th. The scientific and technical instruments company reported ($0.54) earnings per share (EPS) for the quarter. Hurco Companies had a negative return on equity of 7.13% and a negative net margin of 8.15%.The company had revenue of $42.87 million during the quarter.

Institutional Investors Weigh In On Hurco Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in HURC. Ameriprise Financial Inc. boosted its holdings in Hurco Companies by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock worth $6,082,000 after purchasing an additional 1,733 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Hurco Companies during the 3rd quarter worth $992,000. Hillsdale Investment Management Inc. purchased a new position in shares of Hurco Companies during the 3rd quarter worth $322,000. Marshall Wace LLP boosted its stake in shares of Hurco Companies by 180.3% during the 4th quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock worth $1,163,000 after acquiring an additional 48,397 shares during the last quarter. Finally, Brooklands Fund Management Ltd boosted its stake in shares of Hurco Companies by 9.3% during the 4th quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock worth $5,056,000 after acquiring an additional 26,000 shares during the last quarter. Hedge funds and other institutional investors own 74.36% of the company’s stock.

Hurco Companies Company Profile

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.