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

Equities research analysts at StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued on Tuesday. The firm set 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 Performance

Shares of EMCORE stock opened at $2.98 on Tuesday. The company’s 50 day moving average price is $2.26 and its two-hundred day moving average price is $1.49. The firm has a market capitalization of $27.03 million, a P/E ratio of -0.34 and a beta of 1.57. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $7.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. boosted its stake in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after purchasing 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. 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.