EMCORE (NASDAQ:EMKR) Stock Crosses Above 200 Day Moving Average – Should You Sell?

EMCORE Co. (NASDAQ:EMKR) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.58 and traded as high as $3.11. EMCORE shares last traded at $3.10, with a volume of 120,529 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of EMCORE in a research report on Tuesday. They issued a “hold” rating for the company.

EMCORE Stock Performance

The firm has a market capitalization of $28.15 million, a P/E ratio of -1.06 and a beta of 1.70. The business has a 50 day simple moving average of $3.06 and a two-hundred day simple moving average of $2.59.

Hedge Funds Weigh In On EMCORE

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Beryl Capital Management LLC bought a new position in shares of EMCORE during the 4th quarter valued at about $2,625,000. Gardner Lewis Asset Management L P bought a new stake in EMCORE in the fourth quarter worth $1,758,000. Gabelli Funds LLC purchased a new stake in EMCORE during the fourth quarter valued at about $225,000. CSS LLC IL bought a new position in shares of EMCORE during the fourth quarter valued at about $164,000. Finally, Virtu Financial LLC purchased a new position in shares of EMCORE in the fourth quarter worth about $88,000. Hedge funds and other 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.