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

Stock analysts at StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the semiconductor company’s stock.

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

EMCORE Stock Up 1.4 %

EMKR opened at $3.00 on Friday. The stock has a market capitalization of $27.20 million, a price-to-earnings ratio of -0.34 and a beta of 1.70. The firm has a 50 day moving average price of $2.68 and a 200-day moving average price of $1.73. EMCORE has a twelve month low of $0.78 and a twelve month high of $7.20. The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.14.

Hedge Funds Weigh In On EMCORE

A hedge fund recently raised its stake in EMCORE stock. Kovack Advisors Inc. grew its holdings in EMCORE Co. (NASDAQ:EMKR) by 29.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,720 shares of the semiconductor company’s stock after acquiring an additional 18,250 shares during the period. Kovack Advisors Inc. owned 0.88% of EMCORE worth $176,000 as of its most recent SEC filing. Institutional investors 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.