EMCORE (NASDAQ:EMKR) Shares Cross Above 200-Day Moving Average – What’s Next?

EMCORE Co. (NASDAQ:EMKR)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.71 and traded as high as $3.03. EMCORE shares last traded at $2.96, with a volume of 92,312 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EMKR shares. Craig Hallum lowered shares of EMCORE from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. StockNews.com started coverage on shares of EMCORE in a report on Friday. They issued a “hold” rating for the company.

EMCORE Price Performance

The company has a quick ratio of 1.64, a current ratio of 2.88 and a debt-to-equity ratio of 0.14. The firm has a market cap of $27.20 million, a price-to-earnings ratio of -0.34 and a beta of 1.70. The company’s 50-day moving average price is $2.68 and its 200-day moving average price is $1.73.

Hedge Funds Weigh In On EMCORE

An institutional investor recently raised its position in EMCORE stock. Kovack Advisors Inc. boosted its stake in shares of EMCORE Co. (NASDAQ:EMKR) by 29.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,720 shares of the semiconductor company’s stock after purchasing an additional 18,250 shares during the quarter. Kovack Advisors Inc. owned approximately 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.