EMCORE Co. (NASDAQ:EMKR) Sees Large Growth in Short Interest

EMCORE Co. (NASDAQ:EMKRGet Free Report) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 128,400 shares, a growth of 142.7% from the April 15th total of 52,900 shares. Based on an average trading volume of 132,900 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Manatuck Hill Partners LLC purchased a new position in shares of EMCORE during the 3rd quarter valued at $904,000. Perkins Capital Management Inc. increased its holdings in EMCORE by 181.6% in the third quarter. Perkins Capital Management Inc. now owns 2,326,000 shares of the semiconductor company’s stock worth $1,106,000 after buying an additional 1,500,000 shares during the last quarter. Herald Investment Management Ltd acquired a new stake in EMCORE in the third quarter valued at approximately $950,000. Kovack Advisors Inc. lifted its stake in EMCORE by 10.3% in the first quarter. Kovack Advisors Inc. now owns 887,400 shares of the semiconductor company’s stock valued at $306,000 after acquiring an additional 83,100 shares during the last quarter. Finally, Penn Capital Management Company LLC increased its stake in shares of EMCORE by 57.0% during the 4th quarter. Penn Capital Management Company LLC now owns 3,540,170 shares of the semiconductor company’s stock worth $1,731,000 after purchasing an additional 1,284,624 shares during the last quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.

EMCORE Trading Down 5.4 %

Shares of EMCORE stock opened at $1.05 on Monday. EMCORE has a 12 month low of $1.01 and a 12 month high of $10.00. The company has a quick ratio of 1.95, a current ratio of 3.11 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $17.77 and a 200-day simple moving average of $36.81.

EMCORE (NASDAQ:EMKRGet Free Report) last released its earnings results on Thursday, February 8th. The semiconductor company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.10. The company had revenue of $24.12 million for the quarter, compared to analysts’ expectations of $27.00 million. EMCORE had a negative return on equity of 26.00% and a negative net margin of 68.57%. Equities analysts predict that EMCORE will post -1.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com began coverage on EMCORE in a report on Monday, April 8th. They set a “hold” rating for the company. Alliance Global Partners reiterated a “neutral” rating on shares of EMCORE in a report on Thursday.

Read Our Latest Research Report on EMKR


(Get Free Report)

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.

Further Reading

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