EMCORE (NASDAQ:EMKR) Shares Pass Above 200 Day Moving Average – Here’s Why

EMCORE Co. (NASDAQ:EMKR)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.03 and traded as high as $3.00. EMCORE shares last traded at $3.00, with a volume of 60,082 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Craig Hallum cut 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 shares of EMCORE in a research report on Tuesday. They issued a “hold” rating for the company.

EMCORE Trading Up 1.7 %

The stock has a market capitalization of $27.78 million, a P/E ratio of -1.05 and a beta of 1.69. The company has a 50-day moving average price of $2.98 and a two-hundred day moving average price of $2.05.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. lifted its stake in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. 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 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.

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.