StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

Equities research analysts at StockNews.com began coverage on shares of EMCORE (NASDAQ:EMKR) in a report issued on Wednesday. The firm set a “hold” rating on the semiconductor company’s stock.

EMCORE Stock Up 1.0 %

EMKR stock opened at $3.10 on Wednesday. EMCORE has a 52-week low of $0.78 and a 52-week high of $3.88. The business has a fifty day moving average of $3.07 and a two-hundred day moving average of $2.67. The stock has a market cap of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of EMCORE during the fourth quarter valued at about $39,000. Virtu Financial LLC purchased a new position in shares of EMCORE during the 4th quarter worth approximately $88,000. Gardner Lewis Asset Management L P acquired a new stake in EMCORE in the 4th quarter valued at approximately $1,758,000. Geode Capital Management LLC raised 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 valued at $232,000 after purchasing an additional 11,985 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in EMCORE by 6.4% during the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 9,500 shares in the last quarter. 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.