EMCORE Co. (NASDAQ:EMKR) Sees Significant Decrease in Short Interest

EMCORE Co. (NASDAQ:EMKR) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 123,700 shares, a decline of 59.0% from the October 15th total of 301,900 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average trading volume of 817,200 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

EMKR has been the topic of several recent research reports. Craig Hallum downgraded shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. StockNews.com raised EMCORE from a “sell” rating to a “hold” rating in a report on Monday, September 16th.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. increased its stake in EMCORE Co. (NASDAQ:EMKR) by 29.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. Kovack Advisors Inc. owned approximately 0.88% of EMCORE worth $176,000 at the end of the most recent reporting period. Institutional investors own 65.66% of the company’s stock.

EMCORE Stock Performance

Shares of EMKR traded down $0.06 during trading hours on Wednesday, reaching $2.95. 193,880 shares of the company’s stock traded hands, compared to its average volume of 531,918. EMCORE has a twelve month low of $0.78 and a twelve month high of $7.20. The business’s fifty day simple moving average is $1.91 and its two-hundred day simple moving average is $1.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64. The firm has a market capitalization of $26.76 million, a price-to-earnings ratio of -0.34 and a beta of 1.57.

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.