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

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

EMCORE Price Performance

Shares of NASDAQ:EMKR opened at $3.10 on Tuesday. The business’s 50 day simple moving average is $3.06 and its 200-day simple moving average is $2.59. The firm has a market capitalization of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. EMCORE has a 12 month low of $0.78 and a 12 month high of $4.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EMKR. Beryl Capital Management LLC acquired a new position in shares of EMCORE during the 4th quarter worth approximately $2,625,000. Gardner Lewis Asset Management L P acquired a new position in shares of EMCORE during the 4th quarter worth approximately $1,758,000. Gabelli Funds LLC acquired a new position in shares of EMCORE during the 4th quarter worth approximately $225,000. CSS LLC IL acquired a new position in shares of EMCORE during the 4th quarter worth approximately $164,000. Finally, Virtu Financial LLC acquired a new position in shares of EMCORE during the 4th quarter worth approximately $88,000. 65.66% of the stock is currently 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.