EMCORE (NASDAQ:EMKR) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

EMCORE Co. (NASDAQ:EMKR)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.71 and traded as high as $3.03. EMCORE shares last traded at $2.96, with a volume of 92,312 shares.

Wall Street Analysts Forecast Growth

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

EMCORE Stock Down 0.7 %

The firm’s 50 day simple moving average is $2.65 and its 200-day simple moving average is $1.71. The company has a market cap of $26.84 million, a price-to-earnings ratio of -0.34 and a beta of 1.70. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64.

Institutional Trading of EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. raised its position in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,720 shares of the semiconductor company’s stock after buying an additional 18,250 shares during the quarter. Kovack Advisors Inc. owned approximately 0.88% of EMCORE worth $176,000 as of its most recent filing with the Securities and Exchange Commission. 65.66% of the stock is currently owned by hedge funds and other institutional investors.

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.