Investors Buy Large Volume of EMCORE Call Options (NASDAQ:EMKR)

EMCORE Co. (NASDAQ:EMKR) saw some unusual options trading activity on Monday. Investors purchased 2,249 call options on the stock. This is an increase of approximately 1,440% compared to the average volume of 146 call options.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. increased its stake in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent filing with the SEC. 65.66% of the stock is currently owned by institutional investors and hedge funds.

EMCORE Trading Up 1.3 %

Shares of EMKR stock opened at $3.04 on Tuesday. The firm’s 50-day simple moving average is $2.69 and its 200-day simple moving average is $1.76. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64. EMCORE has a 1-year low of $0.78 and a 1-year high of $7.20. The firm has a market cap of $27.56 million, a P/E ratio of -0.35 and a beta of 1.69.

Analyst Upgrades and Downgrades

EMKR has been the subject of a number of recent research reports. StockNews.com started coverage on EMCORE in a research report on Friday. They set a “hold” rating for the company. Craig Hallum lowered shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th.

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.