Gardner Lewis Asset Management L P Buys New Holdings in EMCORE Co. (NASDAQ:EMKR)

Gardner Lewis Asset Management L P purchased a new stake in EMCORE Co. (NASDAQ:EMKR) during the 4th quarter, Holdings Channel.com reports. The fund purchased 585,958 shares of the semiconductor company’s stock, valued at approximately $1,758,000. Gardner Lewis Asset Management L P owned approximately 0.06% of EMCORE at the end of the most recent quarter.

Separately, Newbridge Financial Services Group Inc. bought a new stake in shares of EMCORE in the 4th quarter valued at approximately $39,000. 65.66% of the stock is currently owned by institutional investors.

EMCORE Stock Performance

Shares of NASDAQ:EMKR opened at $3.10 on Friday. The company has a 50-day simple moving average of $3.08 and a 200 day simple moving average of $2.67. The company has a market capitalization of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70. EMCORE Co. has a 52-week low of $0.78 and a 52-week high of $3.80.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of EMCORE in a research note on Wednesday. They issued a “hold” rating for the company.

EMCORE 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.