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

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. StockNews.com raised EMCORE from a “sell” rating to a “hold” rating in a research note on Monday, September 16th. Craig Hallum lowered shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th.

EMCORE Stock Up 0.3 %

EMKR traded up $0.01 during trading on Thursday, reaching $2.96. 395,019 shares of the stock traded hands, compared to its average volume of 531,299. The stock’s 50-day simple moving average is $1.95 and its two-hundred day simple moving average is $1.47. EMCORE has a fifty-two week low of $0.78 and a fifty-two week high of $7.20. The stock has a market cap of $26.85 million, a price-to-earnings ratio of -0.34 and a beta of 1.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.88 and a quick ratio of 1.64.

Institutional Trading of 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% in the 3rd quarter, according to its most recent disclosure 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 quarter. Kovack Advisors Inc. owned 0.88% of EMCORE worth $176,000 at the end of the most recent reporting period. 65.66% of the stock is currently 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.