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

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research report sent to investors on Sunday morning. The firm 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 report on Friday, November 8th.

EMCORE Price Performance

Shares of NASDAQ EMKR opened at $2.98 on Friday. The stock has a fifty day moving average of $2.83 and a 200-day moving average of $1.89. The stock has a market cap of $27.02 million, a PE ratio of -0.34 and a beta of 1.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 2.88. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $7.20.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. grew its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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. Hedge funds and other institutional investors own 65.66% of the company’s stock.

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.