StockNews.com Initiates Coverage on EMCORE (NASDAQ:EMKR)

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research note released on Wednesday. The firm issued a hold rating on the semiconductor company’s stock.

Separately, Craig Hallum downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th.

EMCORE Stock Performance

Shares of EMKR stock opened at $3.06 on Wednesday. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $7.20. The firm has a market cap of $27.78 million, a P/E ratio of -1.05 and a beta of 1.69. The business’s 50 day moving average price is $3.00 and its 200-day moving average price is $2.13.

Institutional Inflows and Outflows

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. raised its position in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after buying 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.

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.