EMCORE (NASDAQ:EMKR) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

EMCORE Co. (NASDAQ:EMKR) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.67 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares trading hands.

Analysts Set New Price Targets

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

EMCORE Trading Up 1.0 %

The firm has a 50-day simple moving average of $3.07 and a two-hundred day simple moving average of $2.67. The company has a market capitalization of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70.

Institutional Investors Weigh In On EMCORE

Several large investors have recently made changes to their positions in EMKR. CSS LLC IL acquired a new stake in EMCORE in the fourth quarter valued at approximately $164,000. Beryl Capital Management LLC bought a new position in shares of EMCORE during the 4th quarter valued at $2,625,000. Gabelli Funds LLC acquired a new stake in shares of EMCORE in the 4th quarter valued at $225,000. Renaissance Technologies LLC boosted its holdings in EMCORE by 6.4% in the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in EMCORE by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 11,985 shares in the last quarter. Institutional investors own 65.66% of the company’s stock.

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.