EMCORE (NASDAQ:EMKR) Share Price Passes Above 200 Day Moving Average – Should You Sell?

EMCORE Co. (NASDAQ:EMKR)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.48 and traded as high as $2.08. EMCORE shares last traded at $2.00, with a volume of 217,572 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EMKR. StockNews.com upgraded EMCORE from a “sell” rating to a “hold” rating in a research report on Monday, September 16th. Craig Hallum upgraded EMCORE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $1.00 to $3.00 in a research report on Wednesday, October 2nd.

EMCORE Trading Up 2.0 %

The company has a current ratio of 2.88, a quick ratio of 1.64 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $18.14 million, a P/E ratio of -0.23 and a beta of 1.56. The firm has a 50-day moving average of $1.64 and a two-hundred day moving average of $1.48.

EMCORE (NASDAQ:EMKR) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.30). EMCORE had a negative return on equity of 25.05% and a negative net margin of 81.08%. The firm had revenue of $20.44 million during the quarter, compared to analyst estimates of $20.00 million. On average, analysts anticipate that EMCORE Co. will post -0.25 EPS for the current year.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. boosted its position in EMCORE Co. (NASDAQ:EMKR) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 887,400 shares of the semiconductor company’s stock after purchasing an additional 83,100 shares during the period. Kovack Advisors Inc. owned 11.48% of EMCORE worth $306,000 at the end of the most recent quarter. 65.66% of the stock is owned by institutional investors and hedge funds.

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.