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

Investment analysts at StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a note issued to investors on Wednesday. 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 $3.06 on Wednesday. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $7.20. The stock has a market cap of $27.78 million, a PE ratio of -1.05 and a beta of 1.69. The firm’s fifty day moving average price is $3.00 and its two-hundred day moving average price is $2.11.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. raised its stake in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd 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 purchasing 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 quarter. Institutional investors 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.