EMCORE (NASDAQ:EMKR) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of EMCORE (NASDAQ:EMKR) in a report released on Sunday morning. The firm issued a hold rating on the semiconductor company’s stock.

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

EMCORE Stock Down 0.7 %

EMKR opened at $2.98 on Friday. The business’s fifty day simple moving average is $2.83 and its 200 day simple moving average is $1.89. EMCORE has a 52 week low of $0.78 and a 52 week high of $7.20. The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.14. The stock has a market cap of $27.02 million, a PE ratio of -0.34 and a beta of 1.69.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. raised its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after buying an additional 18,250 shares during the period. Kovack Advisors Inc. owned about 0.88% of EMCORE worth $176,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.