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

StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research report sent to investors on Monday morning. The brokerage issued a hold rating on the semiconductor company’s stock.

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

EMCORE Stock Down 0.7 %

Shares of NASDAQ EMKR opened at $2.99 on Monday. The firm has a market cap of $27.11 million, a price-to-earnings ratio of -0.34 and a beta of 1.69. EMCORE has a 1 year low of $0.78 and a 1 year high of $7.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 2.88. The stock’s 50-day simple moving average is $2.92 and its 200-day simple moving average is $1.96.

Institutional Investors Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. lifted its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 currently owned by institutional investors and hedge funds.

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.