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

StockNews.com began coverage on shares of EMCORE (NASDAQ:EMKR) in a report published on Thursday morning. The brokerage issued 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 Up 0.3 %

EMKR opened at $2.95 on Thursday. The firm has a market cap of $26.76 million, a P/E ratio of -0.34 and a beta of 1.70. The business’s fifty day simple moving average is $2.61 and its 200 day simple moving average is $1.66. 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.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake 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 the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,720 shares of the semiconductor company’s stock after acquiring 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 quarter. 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.