StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR – Free Report) in a research note released on Monday morning. The brokerage issued a hold rating on the semiconductor company’s stock.
EMCORE Stock Up 1.0 %
EMCORE stock opened at $3.10 on Monday. The stock has a market cap of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70. EMCORE has a twelve month low of $0.78 and a twelve month high of $4.60. The company’s 50-day moving average price is $3.05 and its two-hundred day moving average price is $2.52.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in EMKR. Newbridge Financial Services Group Inc. bought a new position in shares of EMCORE during the fourth quarter worth approximately $39,000. Virtu Financial LLC bought a new position in shares of EMCORE during the fourth quarter worth approximately $88,000. CSS LLC IL bought a new position in shares of EMCORE during the fourth quarter worth approximately $164,000. Kovack Advisors Inc. boosted its position in shares of EMCORE by 29.7% during the 3rd quarter. Kovack Advisors Inc. now owns 79,720 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 18,250 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new stake in shares of EMCORE during the 4th quarter worth approximately $225,000. 65.66% of the stock is owned by institutional investors.
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.
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