EMCORE (NASDAQ:EMKR) Stock Passes Above 200 Day Moving Average – What’s Next?

EMCORE Co. (NASDAQ:EMKR) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.32 and traded as high as $3.12. EMCORE shares last traded at $3.07, with a volume of 139,171 shares changing hands.

Wall Street Analyst Weigh In

EMKR has been the topic of a number of research reports. StockNews.com started coverage on EMCORE in a research note on Saturday. They set a “hold” rating on the stock. Craig Hallum cut shares of EMCORE from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th.

EMCORE Stock Performance

The business’s 50-day moving average price is $3.03 and its 200 day moving average price is $2.33. The stock has a market capitalization of $27.88 million, a PE ratio of -1.05 and a beta of 1.70.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new stake in EMCORE during the 4th quarter valued at $39,000. Virtu Financial LLC bought a new position in shares of EMCORE in the 4th quarter worth approximately $88,000. CSS LLC IL purchased a new position in EMCORE during the fourth quarter valued at $164,000. Gabelli Funds LLC bought a new stake in EMCORE during the fourth quarter worth about $225,000. Finally, Geode Capital Management LLC boosted its position in shares of EMCORE by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 77,410 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 11,985 shares in the last quarter. 65.66% of the stock is owned by hedge funds and other institutional investors.

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.