EMCORE (NASDAQ:EMKR) Stock Crosses Above 200 Day Moving Average – What’s Next?

EMCORE Co. (NASDAQ:EMKR)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.18 and traded as high as $3.05. EMCORE shares last traded at $3.05, with a volume of 155,681 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EMKR shares. StockNews.com started coverage on shares of EMCORE in a report on Thursday. They issued a “hold” rating for the company. Craig Hallum cut shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th.

EMCORE Price Performance

The stock has a market capitalization of $27.70 million, a price-to-earnings ratio of -1.05 and a beta of 1.70. The business’s fifty day moving average price is $3.01 and its 200-day moving average price is $2.18.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in EMCORE stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of EMCORE Co. (NASDAQ:EMKR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,053 shares of the semiconductor company’s stock, valued at approximately $39,000. Newbridge Financial Services Group Inc. owned about 0.14% of EMCORE at the end of the most recent reporting period. 65.66% of the stock is currently owned by institutional investors and hedge funds.

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.