EMCORE (NASDAQ:EMKR) Downgraded to “Sell” at StockNews.com

EMCORE (NASDAQ:EMKRGet Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Other equities research analysts have also issued research reports about the company. Northland Capmk lowered EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 9th. Alliance Global Partners restated a “neutral” rating on shares of EMCORE in a research note on Thursday, May 9th.

Check Out Our Latest Stock Report on EMKR

EMCORE Stock Performance

EMCORE stock traded down $0.03 during trading hours on Monday, hitting $0.94. 264,700 shares of the stock traded hands, compared to its average volume of 209,140. The firm’s 50 day moving average price is $9.17 and its 200-day moving average price is $33.48. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.27 and a quick ratio of 1.85. The stock has a market capitalization of $7.80 million, a price-to-earnings ratio of -0.11 and a beta of 1.54. EMCORE has a 1 year low of $0.93 and a 1 year high of $9.50.

Insider Activity

In related news, major shareholder Archon Capital Management Llc sold 1,255,258 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $1.12, for a total transaction of $1,405,888.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On EMCORE

Several hedge funds have recently bought and sold shares of the stock. Kovack Advisors Inc. lifted its stake in shares of EMCORE by 10.3% in the 1st quarter. Kovack Advisors Inc. now owns 887,400 shares of the semiconductor company’s stock valued at $306,000 after purchasing an additional 83,100 shares during the period. Manatuck Hill Partners LLC purchased a new position in EMCORE in the third quarter valued at $904,000. Herald Investment Management Ltd acquired a new position in shares of EMCORE in the third quarter worth about $950,000. Penn Capital Management Company LLC boosted 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 acquiring an additional 1,284,624 shares in the last quarter. Finally, Archon Capital Management LLC boosted its stake in shares of EMCORE by 65.1% during the 1st quarter. Archon Capital Management LLC now owns 12,552,577 shares of the semiconductor company’s stock worth $4,331,000 after acquiring an additional 4,951,568 shares in the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.

About EMCORE

(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.

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