EMCORE (NASDAQ:EMKR) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued on Sunday. The brokerage 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 research note on Friday, November 8th.

EMCORE Stock Down 0.7 %

Shares of NASDAQ:EMKR opened at $2.98 on Friday. The firm has a fifty day moving average price of $2.83 and a two-hundred day moving average price of $1.88. The company has a market cap of $27.02 million, a price-to-earnings ratio of -0.34 and a beta of 1.69. 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 one year low of $0.78 and a one year high of $7.20.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. lifted its stake in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. Kovack Advisors Inc. owned approximately 0.88% of EMCORE worth $176,000 as of its most recent SEC filing. 65.66% of the stock is owned by 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.