StockNews.com Initiates Coverage on EMCORE (NASDAQ:EMKR)

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a report issued on Wednesday morning. The firm issued a hold rating on the semiconductor company’s stock.

EMCORE Stock Performance

EMKR stock opened at $3.10 on Wednesday. The business’s 50-day moving average is $3.08 and its two-hundred day moving average is $2.69. The company has a market cap of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $3.80.

Institutional Trading of EMCORE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. bought a new stake in shares of EMCORE during the 4th quarter valued at $39,000. Gardner Lewis Asset Management L P purchased a new stake in EMCORE in the fourth quarter worth about $1,758,000. CSS LLC IL bought a new position in shares of EMCORE in the fourth quarter worth about $164,000. Beryl Capital Management LLC purchased a new position in shares of EMCORE during the 4th quarter valued at about $2,625,000. Finally, Renaissance Technologies LLC grew its stake in shares of EMCORE by 6.4% during the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after acquiring an additional 9,500 shares during the period. 65.66% of the stock is owned by hedge funds and other 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.