EMCORE (NASDAQ:EMKR) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

EMCORE Co. (NASDAQ:EMKR)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.71 and traded as high as $3.03. EMCORE shares last traded at $2.96, with a volume of 92,312 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EMKR shares. Craig Hallum cut shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. StockNews.com initiated coverage on shares of EMCORE in a research note on Friday. They set a “hold” rating for the company.

EMCORE Stock Up 1.4 %

The firm has a 50-day moving average price of $2.68 and a two-hundred day moving average price of $1.73. The firm has a market cap of $27.20 million, a price-to-earnings ratio of -0.34 and a beta of 1.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 2.88.

Institutional Trading of EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. lifted its stake in EMCORE Co. (NASDAQ:EMKR) by 29.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,720 shares of the semiconductor company’s stock after buying an additional 18,250 shares during the period. Kovack Advisors Inc. owned approximately 0.88% of EMCORE worth $176,000 at the end of the most recent quarter. 65.66% of the stock is owned by institutional investors and hedge funds.

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.