EMCORE Co. (NASDAQ:EMKR) Short Interest Update

EMCORE Co. (NASDAQ:EMKR) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 70,300 shares, an increase of 62.4% from the September 15th total of 43,300 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 790,600 shares, the days-to-cover ratio is presently 0.1 days.

EMCORE Price Performance

Shares of NASDAQ EMKR traded up $0.03 during trading hours on Monday, reaching $2.32. 158,607 shares of the stock traded hands, compared to its average volume of 537,796. The company’s 50-day simple moving average is $1.33 and its two-hundred day simple moving average is $1.99. The company has a market capitalization of $19.18 million, a P/E ratio of -0.27 and a beta of 1.56. EMCORE has a 52-week low of $0.78 and a 52-week high of $7.20. The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.14.

EMCORE (NASDAQ:EMKR) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.30). The business had revenue of $20.44 million during the quarter, compared to analysts’ expectations of $20.00 million. EMCORE had a negative net margin of 81.08% and a negative return on equity of 25.05%. Equities research analysts forecast that EMCORE will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in EMCORE stock. Archon Capital Management LLC grew its position in shares of EMCORE Co. (NASDAQ:EMKR) by 65.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,552,577 shares of the semiconductor company’s stock after acquiring an additional 4,951,568 shares during the period. EMCORE comprises 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 at the end of the most recent quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.

Wall Street Analyst Weigh In

EMKR has been the topic of a number of research analyst reports. StockNews.com upgraded EMCORE from a “sell” rating to a “hold” rating in a research note on Monday, September 16th. Craig Hallum upgraded shares of EMCORE from a “hold” rating to a “buy” rating and lifted their target price for the stock from $1.00 to $3.00 in a research note on Wednesday, October 2nd.

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.