EMCORE Co. (NASDAQ:EMKR) Short Interest Update

EMCORE Co. (NASDAQ:EMKR) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 52,900 shares, an increase of 55.1% from the March 31st total of 34,100 shares. Based on an average trading volume of 121,200 shares, the short-interest ratio is presently 0.4 days. Approximately 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on EMCORE in a research note on Monday, April 8th. They set a “hold” rating for the company.

Hedge Funds Weigh In On EMCORE

A number of large investors have recently modified their holdings of EMKR. Valeo Financial Advisors LLC raised its stake in shares of EMCORE by 100.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 200,000 shares of the semiconductor company’s stock worth $95,000 after buying an additional 100,000 shares in the last quarter. Kovack Advisors Inc. raised its stake in shares of EMCORE by 10.3% during the 1st quarter. Kovack Advisors Inc. now owns 887,400 shares of the semiconductor company’s stock worth $306,000 after buying an additional 83,100 shares in the last quarter. Manatuck Hill Partners LLC purchased a new position in shares of EMCORE during the 3rd quarter worth approximately $904,000. Herald Investment Management Ltd purchased a new position in shares of EMCORE during the 3rd quarter worth approximately $950,000. Finally, Perkins Capital Management Inc. increased its stake in EMCORE by 181.6% in the 3rd quarter. Perkins Capital Management Inc. now owns 2,326,000 shares of the semiconductor company’s stock valued at $1,106,000 after purchasing an additional 1,500,000 shares in the last quarter. 65.66% of the stock is owned by hedge funds and other institutional investors.

EMCORE Stock Down 6.8 %

EMKR traded down $0.20 on Friday, hitting $2.73. 188,282 shares of the company traded hands, compared to its average volume of 179,266. The company has a 50 day moving average of $26.62 and a 200-day moving average of $40.25. The company has a quick ratio of 1.95, a current ratio of 3.11 and a debt-to-equity ratio of 0.10. EMCORE has a 12-month low of $2.44 and a 12-month high of $11.41.

EMCORE (NASDAQ:EMKR) last posted its quarterly earnings data on Thursday, February 8th. The semiconductor company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.10. The firm had revenue of $24.12 million during the quarter, compared to the consensus estimate of $27.00 million. EMCORE had a negative return on equity of 26.76% and a negative net margin of 67.43%. As a group, analysts predict that EMCORE will post -1.8 earnings per share for the current year.

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.