EMCORE Sees Unusually Large Options Volume (NASDAQ:EMKR)

EMCORE Co. (NASDAQ:EMKR) was the target of unusually large options trading on Monday. Traders acquired 2,249 call options on the company. This is an increase of approximately 1,440% compared to the typical daily volume of 146 call options.

Institutional Trading of EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. lifted its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. Kovack Advisors Inc. owned 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.

Analysts Set New Price Targets

Several research analysts recently commented on EMKR shares. Craig Hallum cut EMCORE from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. StockNews.com assumed coverage on EMCORE in a research report on Friday, December 20th. They set a “hold” rating for the company.

EMCORE Price Performance

Shares of EMKR opened at $3.05 on Wednesday. The company has a current ratio of 2.88, a quick ratio of 1.64 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $2.71 and its 200-day simple moving average is $1.77. The firm has a market capitalization of $27.65 million, a price-to-earnings ratio of -0.35 and a beta of 1.69. EMCORE has a twelve month low of $0.78 and a twelve month high of $7.20.

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.