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

Equities research analysts at StockNews.com began coverage on shares of EMCORE (NASDAQ:EMKR) in a report released on Sunday. The brokerage set a “hold” rating on the semiconductor company’s stock.

Separately, Craig Hallum cut shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th.

EMCORE Stock Performance

Shares of EMCORE stock opened at $2.98 on Friday. The firm’s 50 day simple moving average is $2.84 and its two-hundred day simple moving average is $1.90. The firm has a market capitalization of $27.02 million, a price-to-earnings ratio of -0.34 and a beta of 1.69. EMCORE has a 12-month low of $0.78 and a 12-month high of $7.20. 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 Trading of 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 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. 65.66% of the stock is owned by institutional investors and hedge funds.

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.