EMCORE (NASDAQ:EMKR) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

EMCORE Co. (NASDAQ:EMKR) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.58 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of EMCORE in a research report on Tuesday. They set a “hold” rating on the stock.

EMCORE Price Performance

The firm’s 50-day simple moving average is $3.06 and its two-hundred day simple moving average is $2.58. The company has a market capitalization of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. purchased a new stake in shares of EMCORE in the fourth quarter valued at about $39,000. Virtu Financial LLC purchased a new stake in shares of EMCORE in the fourth quarter valued at about $88,000. CSS LLC IL purchased a new stake in shares of EMCORE in the fourth quarter valued at about $164,000. Gabelli Funds LLC purchased a new stake in shares of EMCORE in the fourth quarter valued at about $225,000. Finally, Geode Capital Management LLC lifted its holdings in shares of EMCORE by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock valued at $232,000 after purchasing an additional 11,985 shares in the last quarter. 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.