EMCORE Co. (NASDAQ:EMKR) Sees Large Growth in Short Interest

EMCORE Co. (NASDAQ:EMKR) saw a significant growth in short interest in 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. Approximately 2.2% of the shares of the company are sold short. Based on an average daily volume of 849,600 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. raised its position in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. Kovack Advisors Inc. owned approximately 0.88% of EMCORE worth $176,000 as of its most recent filing with the SEC. 65.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EMKR has been the subject of a number of research analyst reports. 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 began coverage on EMCORE in a report on Saturday. They set a “hold” rating on the stock.

EMCORE Stock Down 1.0 %

Shares of EMCORE stock traded down $0.03 during trading on Friday, reaching $3.03. 103,297 shares of the company traded hands, compared to its average volume of 488,879. 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 market capitalization of $27.47 million, a PE ratio of -0.35 and a beta of 1.70. The company has a 50 day moving average price of $2.75 and a 200-day moving average price of $1.81. EMCORE has a 1-year low of $0.78 and a 1-year high of $7.20.

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.