EMCORE (NASDAQ:EMKR) Now Covered by StockNews.com

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

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

EMCORE Stock Down 0.3 %

Shares of NASDAQ:EMKR opened at $3.05 on Wednesday. The business’s 50 day moving average is $3.00 and its 200 day moving average is $2.11. EMCORE has a 12-month low of $0.78 and a 12-month high of $7.20. The stock has a market cap of $27.69 million, a price-to-earnings ratio of -1.05 and a beta of 1.69.

Institutional Trading of EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. grew its stake in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. 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.