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

Equities researchers at StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the semiconductor company’s stock.

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

EMCORE Stock Performance

EMCORE stock opened at $2.96 on Wednesday. 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 has a twelve month low of $0.78 and a twelve month high of $7.20. The company’s 50-day moving average price is $2.40 and its 200-day moving average price is $1.54. The company has a market cap of $26.85 million, a PE ratio of -0.34 and a beta of 1.70.

Institutional Investors Weigh In On EMCORE

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

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.