Newbridge Financial Services Group Inc. Makes New $39,000 Investment in EMCORE Co. (NASDAQ:EMKR)

Newbridge Financial Services Group Inc. bought a new position in EMCORE Co. (NASDAQ:EMKR) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 13,053 shares of the semiconductor company’s stock, valued at approximately $39,000.

Separately, Kovack Advisors Inc. raised its holdings in EMCORE by 29.7% in the third quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 18,250 shares in the last quarter. 65.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EMKR has been the subject of a number of recent research reports. Craig Hallum downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. StockNews.com began coverage on EMCORE in a research note on Thursday, February 6th. They set a “hold” rating on the stock.

EMCORE Stock Performance

Shares of EMKR stock opened at $3.07 on Wednesday. EMCORE Co. has a fifty-two week low of $0.78 and a fifty-two week high of $4.86. The firm has a market capitalization of $27.88 million, a price-to-earnings ratio of -1.05 and a beta of 1.70. The stock’s 50-day simple moving average is $3.01 and its 200-day simple moving average is $2.23.

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.