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

Equities research analysts at StockNews.com initiated coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued on Monday. 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 research note on Friday, November 8th.

EMCORE Stock Performance

Shares of EMKR stock opened at $2.97 on Monday. The company has a market cap of $26.94 million, a price-to-earnings ratio of -0.34 and a beta of 1.57. EMCORE has a 12-month low of $0.78 and a 12-month high of $7.20. The stock has a 50 day simple moving average of $2.07 and a 200-day simple moving average of $1.46. The company has a current ratio of 2.88, a quick ratio of 1.64 and a debt-to-equity ratio of 0.14.

Institutional Investors Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Archon Capital Management LLC raised its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 65.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,552,577 shares of the semiconductor company’s stock after purchasing an additional 4,951,568 shares during the quarter. EMCORE accounts for 1.5% of Archon Capital Management LLC’s portfolio, making the stock its 22nd largest position. Archon Capital Management LLC owned 162.39% of EMCORE worth $4,331,000 as of its most recent SEC filing. Institutional investors own 65.66% of the company’s stock.

EMCORE Company Profile

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.