StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

Research analysts at StockNews.com began coverage on shares of EMCORE (NASDAQ:EMKR) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the semiconductor company’s stock.

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

EMCORE Price Performance

EMCORE stock opened at $3.03 on Thursday. The stock has a market cap of $27.51 million, a P/E ratio of -1.04 and a beta of 1.70. EMCORE has a 1 year low of $0.78 and a 1 year high of $6.40. The firm’s 50 day moving average price is $3.01 and its 200-day moving average price is $2.18.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in EMCORE stock. Newbridge Financial Services Group Inc. acquired a new position in shares of EMCORE Co. (NASDAQ:EMKR) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,053 shares of the semiconductor company’s stock, valued at approximately $39,000. Newbridge Financial Services Group Inc. owned 0.14% of EMCORE as of its most recent SEC filing. 65.66% of the stock is currently owned by institutional investors and hedge funds.

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.