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

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

Separately, Craig Hallum cut EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th.

EMCORE Stock Performance

EMCORE stock opened at $3.01 on Tuesday. The firm has a market cap of $27.33 million, a price-to-earnings ratio of -1.03 and a beta of 1.69. The firm’s 50 day moving average price is $2.98 and its two-hundred day moving average price is $2.05. EMCORE has a 1 year low of $0.78 and a 1 year high of $7.20.

Institutional Trading of EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. increased its holdings in 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 institutional investor owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. Kovack Advisors Inc. owned about 0.88% of EMCORE worth $176,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 65.66% of the company’s stock.

About EMCORE

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.