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

EMCORE Co. (NASDAQ:EMKR) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.52 and traded as high as $2.39. EMCORE shares last traded at $2.33, with a volume of 143,450 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EMKR shares. Craig Hallum raised shares of EMCORE from a “hold” rating to a “buy” rating and raised their price objective for the company from $1.00 to $3.00 in a research note on Wednesday, October 2nd. StockNews.com raised shares of EMCORE from a “sell” rating to a “hold” rating in a research note on Monday, September 16th.

EMCORE Trading Down 1.7 %

The company’s fifty day moving average is $1.47 and its two-hundred day moving average is $1.51. The stock has a market cap of $19.26 million, a price-to-earnings ratio of -0.27 and a beta of 1.56. The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.14.

EMCORE (NASDAQ:EMKR) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.30). EMCORE had a negative return on equity of 25.05% and a negative net margin of 81.08%. The company had revenue of $20.44 million for the quarter, compared to analyst estimates of $20.00 million. On average, research analysts predict that EMCORE Co. will post -0.25 EPS for the current fiscal year.

Institutional Trading of EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. lifted its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 10.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 887,400 shares of the semiconductor company’s stock after acquiring an additional 83,100 shares during the period. Kovack Advisors Inc. owned 11.48% of EMCORE worth $306,000 at the end of the most recent reporting period. 65.66% of the stock is owned by institutional investors and hedge funds.

About EMCORE

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.