EMCORE (NASDAQ:EMKR) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Posted by Lorenzo Tanos on Jan 29th, 2025

EMCORE Co. (NASDAQ:EMKR – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.11 and traded as high as $3.07. EMCORE shares last traded at $3.06, with a volume of 53,502 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EMKR. StockNews.com began coverage on shares of EMCORE in a report on Wednesday. They issued a “hold” rating on the stock. Craig Hallum downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th.

Check Out Our Latest Analysis on EMCORE

EMCORE Stock Down 0.3 %

The firm has a market cap of $27.78 million, a PE ratio of -1.05 and a beta of 1.69. The firm’s fifty day simple moving average is $3.00 and its two-hundred day simple moving average is $2.11.

Institutional Investors Weigh In On EMCORE

A hedge fund recently bought a new stake in EMCORE stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of EMCORE Co. (NASDAQ:EMKR – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,053 shares of the semiconductor company’s stock, valued at approximately $39,000. Newbridge Financial Services Group Inc. owned about 0.14% of EMCORE at the end of the most recent reporting period. Hedge funds and other institutional investors own 65.66% of the company’s stock.

About EMCORE

(Get Free Report)

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.