EMCORE (NASDAQ:EMKR) Shares Cross Above 200 Day Moving Average – Time to Sell?

EMCORE Co. (NASDAQ:EMKR)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.08 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares.

Analyst Upgrades and Downgrades

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

EMCORE Price Performance

The firm has a market capitalization of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70. The stock’s fifty day simple moving average is $3.10 and its 200 day simple moving average is $3.08.

Hedge Funds Weigh In On EMCORE

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of EMCORE during the fourth quarter valued at about $88,000. CSS LLC IL acquired a new position in shares of EMCORE during the fourth quarter valued at about $164,000. Gabelli Funds LLC acquired a new position in shares of EMCORE during the fourth quarter valued at about $225,000. Geode Capital Management LLC increased its holdings in shares of EMCORE by 18.3% during the fourth quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 11,985 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of EMCORE by 6.4% during the fourth quarter. Renaissance Technologies LLC now owns 158,658 shares of the semiconductor company’s stock valued at $476,000 after acquiring an additional 9,500 shares in the last quarter. Institutional investors and hedge funds own 65.66% of the company’s stock.

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.