EMCORE Sees Unusually Large Options Volume (NASDAQ:EMKR)

EMCORE Co. (NASDAQ:EMKR) was the target of some unusual options trading activity on Monday. Stock traders acquired 2,249 call options on the company. This is an increase of 1,440% compared to the average daily volume of 146 call options.

EMCORE Price Performance

Shares of EMKR stock opened at $3.04 on Tuesday. The firm has a fifty day moving average of $2.69 and a two-hundred day moving average of $1.76. The firm has a market cap of $27.56 million, a P/E ratio of -0.35 and a beta of 1.69. EMCORE has a 1-year low of $0.78 and a 1-year 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.

Analysts Set New Price Targets

A number of brokerages have commented on EMKR. Craig Hallum lowered shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. StockNews.com began coverage on EMCORE in a report on Friday. They issued a “hold” rating for the company.

Institutional Trading of EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. raised its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing. 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.