EMCORE (NASDAQ:EMKR) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of EMCORE Co. (NASDAQ:EMKR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.67 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on EMCORE in a report on Wednesday. They issued a “hold” rating for the company.

EMCORE Stock Performance

The firm has a market capitalization of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. The business’s 50 day moving average is $3.07 and its 200-day moving average is $2.67.

Institutional Investors Weigh In On EMCORE

Several hedge funds and other institutional investors have recently made changes to their positions in EMKR. CSS LLC IL acquired a new position in shares of EMCORE during the 4th quarter worth about $164,000. Beryl Capital Management LLC bought a new position in EMCORE in the 4th quarter worth approximately $2,625,000. Gabelli Funds LLC acquired a new position in shares of EMCORE during the fourth quarter worth approximately $225,000. Renaissance Technologies LLC boosted its position in shares of EMCORE by 6.4% in the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after acquiring an additional 9,500 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of EMCORE by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 11,985 shares during the last quarter. 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.