Hurco Companies (NASDAQ:HURC) Posts Quarterly Earnings Results

Hurco Companies (NASDAQ:HURC) posted its quarterly earnings results on Friday. The scientific and technical instruments company reported ($1.47) earnings per share (EPS) for the quarter, reports. Hurco Companies had a negative net margin of 6.40% and a negative return on equity of 5.77%. The company had revenue of $42.65 million during the quarter.

Hurco Companies Price Performance

Hurco Companies stock opened at $17.25 on Monday. The firm has a 50 day simple moving average of $16.70 and a 200-day simple moving average of $18.45. Hurco Companies has a 1-year low of $14.82 and a 1-year high of $28.20.

Insider Activity

In other Hurco Companies news, CFO Sonja K. Mcclelland acquired 1,950 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were purchased at an average cost of $15.32 per share, for a total transaction of $29,874.00. Following the completion of the acquisition, the chief financial officer now owns 81,266 shares of the company’s stock, valued at approximately $1,244,995.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have bought 2,915 shares of company stock valued at $44,565. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. Pacific Ridge Capital Partners LLC grew its stake in Hurco Companies, Inc. (NASDAQ:HURC) by 16.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 216,603 shares of the scientific and technical instruments company’s stock after acquiring an additional 31,026 shares during the period. Pacific Ridge Capital Partners LLC owned about 3.33% of Hurco Companies worth $4,367,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 74.36% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Hurco Companies from a “hold” rating to a “sell” rating in a research note on Thursday, June 6th.

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.