EMCORE (NASDAQ:EMKR) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research note issued on Thursday. The brokerage set 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 report on Friday, November 8th.

EMCORE Stock Performance

NASDAQ:EMKR opened at $2.95 on Thursday. The stock has a market capitalization of $26.76 million, a P/E ratio of -0.34 and a beta of 1.70. 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 has a 1 year low of $0.78 and a 1 year high of $7.20. The firm has a 50 day moving average of $2.61 and a 200-day moving average of $1.66.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. grew its position in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm 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. 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.