EMCORE Co. (NASDAQ:EMKR) Short Interest Up 105.3% in December

EMCORE Co. (NASDAQ:EMKR) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 146,000 shares, a growth of 105.3% from the November 30th total of 71,100 shares. Based on an average daily volume of 849,600 shares, the short-interest ratio is currently 0.2 days. Approximately 2.2% of the shares of the company are sold short.

EMCORE Price Performance

Shares of EMKR stock traded down $0.03 on Friday, hitting $3.03. 103,297 shares of the stock traded hands, compared to its average volume of 488,879. The firm has a market cap of $27.47 million, a price-to-earnings ratio of -0.35 and a beta of 1.70. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64. The firm has a 50 day simple moving average of $2.75 and a two-hundred day simple moving average of $1.81. EMCORE has a 52 week low of $0.78 and a 52 week high of $7.20.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Craig Hallum downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. StockNews.com assumed coverage on EMCORE in a report on Saturday. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. boosted its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after purchasing an additional 18,250 shares during the quarter. Kovack Advisors Inc. owned about 0.88% of EMCORE worth $176,000 at the end of the most recent quarter. 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.