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

Investment analysts at StockNews.com initiated coverage on shares of EMCORE (NASDAQ:EMKR) in a research note 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 Trading Down 1.0 %

Shares of EMKR opened at $3.07 on Friday. The business’s fifty day simple moving average is $3.03 and its two-hundred day simple moving average is $2.32. EMCORE has a 12 month low of $0.78 and a 12 month high of $4.60. The company has a market cap of $27.88 million, a price-to-earnings ratio of -1.05 and a beta of 1.70.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in EMCORE by 6.4% in the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after acquiring an additional 9,500 shares in the last quarter. Geode Capital Management LLC grew its position in EMCORE by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 11,985 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of EMCORE during the fourth quarter valued at approximately $39,000. Kovack Advisors Inc. boosted its position in shares of EMCORE by 29.7% during 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, Virtu Financial LLC purchased a new position in shares of EMCORE during the fourth quarter valued at approximately $88,000. Hedge funds and other institutional investors own 65.66% of the company’s stock.

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.