EMCORE (NASDAQ:EMKR) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of EMCORE (NASDAQ:EMKR) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the semiconductor company’s stock.

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

EMCORE Stock Up 0.7 %

Shares of EMCORE stock opened at $3.00 on Tuesday. The stock has a market capitalization of $27.20 million, a P/E ratio of -0.34 and a beta of 1.57. The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $2.33 and a two-hundred day moving average price of $1.51. EMCORE has a 12-month low of $0.78 and a 12-month high of $7.20.

Institutional Inflows and Outflows

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. raised its holdings in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,720 shares of the semiconductor company’s stock after buying an additional 18,250 shares during the quarter. Kovack Advisors Inc. owned about 0.88% of EMCORE worth $176,000 as of its most recent SEC filing. 65.66% of the stock is currently owned by institutional investors and hedge funds.

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.