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

StockNews.com started coverage on shares of EMCORE (NASDAQ:EMKR) in a research note published on Friday. The brokerage issued a hold rating on the semiconductor company’s stock.

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

EMCORE Trading Down 0.3 %

Shares of NASDAQ EMKR opened at $3.08 on Friday. EMCORE has a 12-month low of $0.78 and a 12-month high of $4.86. The stock’s fifty day simple moving average is $3.02 and its two-hundred day simple moving average is $2.26. The stock has a market capitalization of $27.97 million, a PE ratio of -1.06 and a beta of 1.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gardner Lewis Asset Management L P acquired a new position in shares of EMCORE in the 4th quarter valued at about $1,758,000. Gabelli Funds LLC acquired a new position in EMCORE in the fourth quarter valued at approximately $225,000. Virtu Financial LLC purchased a new stake in EMCORE in the 4th quarter worth approximately $88,000. Kovack Advisors Inc. grew its stake 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 purchasing an additional 18,250 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of EMCORE during the 4th quarter valued at approximately $39,000. 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.