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

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research note released on Friday. The brokerage issued a hold rating on the semiconductor company’s stock.

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

EMCORE Price Performance

NASDAQ EMKR opened at $3.00 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 2.88. The stock has a market cap of $27.20 million, a price-to-earnings ratio of -0.34 and a beta of 1.70. The business has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $1.74. EMCORE has a 52-week low of $0.78 and a 52-week high of $7.20.

Institutional Inflows and Outflows

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. grew its stake in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. Kovack Advisors Inc. owned 0.88% of EMCORE worth $176,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.