EMCORE (NASDAQ:EMKR) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued on Saturday. The brokerage set a “hold” rating on the semiconductor company’s stock.

Separately, Craig Hallum cut EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th.

EMCORE Stock Performance

Shares of EMKR stock opened at $3.03 on Friday. The company has a market capitalization of $27.47 million, a P/E ratio of -0.35 and a beta of 1.70. EMCORE has a 52 week low of $0.78 and a 52 week high of $7.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 2.88. The company’s 50 day moving average price is $2.74 and its two-hundred day moving average price is $1.79.

Institutional Trading of EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. lifted its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after acquiring 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 SEC filing. 65.66% of the stock is owned by 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.