EMCORE (NASDAQ:EMKR) Shares Pass Above 200 Day Moving Average – Should You Sell?

EMCORE Co. (NASDAQ:EMKR)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.84 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 research note on Friday. They issued a “hold” rating for the company.

EMCORE Stock Performance

The firm has a market capitalization of $28.15 million, a PE ratio of -1.06 and a beta of 1.70. The business’s fifty day simple moving average is $3.09 and its 200-day simple moving average is $2.84.

Hedge Funds Weigh In On EMCORE

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in EMCORE in the 4th quarter worth $88,000. Gardner Lewis Asset Management L P bought a new stake in shares of EMCORE in the fourth quarter worth about $1,758,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of EMCORE in the fourth quarter worth about $39,000. CSS LLC IL bought a new position in EMCORE during the fourth quarter valued at approximately $164,000. Finally, Beryl Capital Management LLC purchased a new position in EMCORE during the 4th quarter valued at approximately $2,625,000. 65.66% of the stock is owned by hedge funds and other institutional investors.

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.