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

Equities research analysts at StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a note issued to investors on Sunday. The firm set a “hold” rating on the semiconductor company’s stock.

Separately, Craig Hallum lowered EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th.

EMCORE Price Performance

EMKR opened at $2.98 on Friday. The business has a 50 day moving average price of $2.84 and a two-hundred day moving average price of $1.90. EMCORE has a 52 week low of $0.78 and a 52 week high of $7.20. The company has a market cap of $27.02 million, a PE ratio of -0.34 and a beta of 1.69. The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.14.

Institutional Investors Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. raised its position in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. Kovack Advisors Inc. owned approximately 0.88% of EMCORE worth $176,000 at the end of the most recent reporting period. 65.66% of the stock is currently owned by hedge funds and other institutional investors.

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.