StockNews.com Begins Coverage on EMCORE (NASDAQ:EMKR)

Equities researchers at StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the semiconductor company’s stock.

Separately, Craig Hallum lowered EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th.

EMCORE Trading Up 0.7 %

EMKR opened at $3.05 on Thursday. The stock has a market cap of $27.70 million, a price-to-earnings ratio of -1.05 and a beta of 1.70. EMCORE has a 1 year low of $0.78 and a 1 year high of $6.89. The stock has a fifty day moving average price of $3.01 and a 200 day moving average price of $2.18.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. lifted its holdings in EMCORE Co. (NASDAQ:EMKR) by 29.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,720 shares of the semiconductor company’s stock after purchasing an additional 18,250 shares during the period. Kovack Advisors Inc. owned 0.88% of EMCORE worth $176,000 as of its most recent filing with the SEC. 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.