EMCORE (NASDAQ:EMKR) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of EMCORE Co. (NASDAQ:EMKR) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.32 and traded as high as $3.12. EMCORE shares last traded at $3.07, with a volume of 139,171 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EMKR. Craig Hallum lowered shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. StockNews.com began coverage on shares of EMCORE in a research report on Saturday. They issued a “hold” rating on the stock.

EMCORE Stock Down 1.0 %

The firm has a 50 day simple moving average of $3.03 and a 200-day simple moving average of $2.33. The stock has a market cap of $27.88 million, a P/E ratio of -1.05 and a beta of 1.70.

Hedge Funds Weigh In On EMCORE

Institutional investors and hedge funds have recently modified their holdings of the stock. Beryl Capital Management LLC bought a new stake in shares of EMCORE in the fourth quarter valued at about $2,625,000. Gardner Lewis Asset Management L P acquired a new stake in EMCORE in the fourth quarter valued at about $1,758,000. Renaissance Technologies LLC grew its stake in shares of EMCORE by 6.4% during the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after buying an additional 9,500 shares during the last quarter. Kovack Advisors Inc. increased its stake in shares of EMCORE by 29.7% in the third quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock valued at $176,000 after buying an additional 18,250 shares during the period. Finally, Geode Capital Management LLC raised its position in EMCORE by 18.3% during the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 11,985 shares during the last quarter. 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.