EMCORE Target of Unusually High Options Trading (NASDAQ:EMKR)

EMCORE Co. (NASDAQ:EMKR) was the recipient of some unusual options trading activity on Monday. Traders bought 2,249 call options on the company. This is an increase of 1,440% compared to the average volume of 146 call options.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Craig Hallum cut shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. StockNews.com initiated coverage on EMCORE in a report on Friday, December 20th. They issued a “hold” rating for the company.

Institutional Trading of EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. grew its holdings in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 79,720 shares of the semiconductor company’s stock after buying an additional 18,250 shares during the period. Kovack Advisors Inc. owned 0.88% of EMCORE worth $176,000 at the end of the most recent reporting period. 65.66% of the stock is owned by institutional investors.

EMCORE Stock Performance

Shares of EMKR opened at $3.05 on Wednesday. The company’s 50 day simple moving average is $2.71 and its 200-day simple moving average is $1.77. The firm has a market cap of $27.65 million, a PE ratio of -0.35 and a beta of 1.69. EMCORE has a 12-month low of $0.78 and a 12-month high of $7.20. The company has a current ratio of 2.88, a quick ratio of 1.64 and a debt-to-equity ratio of 0.14.

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.