EMCORE (NASDAQ:EMKR) Stock Crosses Above 200-Day Moving Average – Here’s Why

EMCORE Co. (NASDAQ:EMKR) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.52 and traded as high as $2.39. EMCORE shares last traded at $2.33, with a volume of 143,450 shares traded.

Analysts Set New Price Targets

EMKR has been the subject of several research reports. Craig Hallum raised EMCORE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $1.00 to $3.00 in a research note on Wednesday, October 2nd. StockNews.com raised shares of EMCORE from a “sell” rating to a “hold” rating in a research note on Monday, September 16th.

EMCORE Stock Performance

The stock has a market cap of $19.26 million, a PE ratio of -0.27 and a beta of 1.56. The stock has a fifty day simple moving average of $1.47 and a two-hundred day simple moving average of $1.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 2.88.

EMCORE (NASDAQ:EMKR) last released its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.30). The business had revenue of $20.44 million for the quarter, compared to analysts’ expectations of $20.00 million. EMCORE had a negative net margin of 81.08% and a negative return on equity of 25.05%. Equities analysts anticipate that EMCORE Co. will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. lifted its position in shares of EMCORE Co. (NASDAQ:EMKR) by 10.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 887,400 shares of the semiconductor company’s stock after acquiring an additional 83,100 shares during the period. Kovack Advisors Inc. owned about 11.48% of EMCORE worth $306,000 at the end of the most recent reporting period. Hedge funds and other 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.