EMCORE (NASDAQ:EMKR) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

EMCORE Co. (NASDAQ:EMKR)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.06 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen began coverage on EMCORE in a report on Wednesday, May 21st. They issued a “hold” rating for the company.

EMCORE Trading Up 1.0%

The stock has a market cap of $28.15 million, a price-to-earnings ratio of -1.06 and a beta of 1.70. The firm has a fifty day simple moving average of $3.10 and a 200 day simple moving average of $3.06.

Institutional Investors Weigh In On EMCORE

Several large investors have recently modified their holdings of the stock. CSS LLC IL bought a new stake in shares of EMCORE in the 4th quarter valued at approximately $164,000. Beryl Capital Management LLC bought a new stake in shares of EMCORE in the 4th quarter valued at approximately $2,625,000. Gabelli Funds LLC bought a new stake in shares of EMCORE in the 4th quarter valued at approximately $225,000. Renaissance Technologies LLC grew its stake in shares of EMCORE by 6.4% in the 4th quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after purchasing an additional 9,500 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of EMCORE by 18.3% in the 4th 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 during the period. 65.66% of the stock is currently owned by institutional investors.

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.