EMCORE (NASDAQ:EMKR) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued on Wednesday. The brokerage set a “hold” rating on the semiconductor company’s stock.

Separately, Craig Hallum lowered shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th.

EMCORE Stock Up 0.7 %

EMKR stock opened at $2.96 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.14. EMCORE has a 52 week low of $0.78 and a 52 week high of $7.20. The stock has a market capitalization of $26.85 million, a PE ratio of -0.34 and a beta of 1.70. The firm has a 50 day moving average of $2.40 and a 200 day moving average of $1.54.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. raised its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. Kovack Advisors Inc. owned approximately 0.88% of EMCORE worth $176,000 at the end of the most recent quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.

EMCORE Company Profile

EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigation, as well as radar positioning and pointing systems, and battlefield/artillery survey systems.